Holding Deposit – HelpMake Text Bigger
Myself and my partner put a Holding Deposit of £500 on property last week. We signed no terms and conditions etc.
As I was not in the Country my partner paid this deposit with her Bank Card.
She was told at the time that if we didn’t go through with the tenancy or if it fell through that this money would be refunded.
She was agreeing to a property on a Monthly basis at x amount of rent, x amount of deposit.
So on the day my partner filled out application forms, sent on reference checks, bank statements etc.
A couple of days later, the letting agent called me to say that they would be seeking quarterly yearly payments for the property. I said we could pay the 1st quarterly payment but after that would need it reviewed. The letting agent told me he would come back to us after he spoke directly to the landlord to see if this would be acceptable (This was last Friday 3rd July)…
The letting agent came back yesterday (8th July) with the following
“we have spoken with the managing agent and unfortunately they will only move forward if the rental payments are made quarterly (two 3 month payments for the 6 months tenancy) with an option to review after the 6 months.
If you cannot proceed any further with the rental, you may lose your 2 week holding deposit as (name) verbally agreed that the payments can be made quarterly”.
We are both so angry as from our point of view they blatantly lied to us and are now threatening to not give back the holding deposit which we were assured would be refunded if the tenancy did not go ahead.
Would certainly appreciate anyone’s advice or experience in a similar situation.
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