holding deposit for rental property

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    holding deposit for rental property

    In December 2019 we were accepted as tenants for a property. We had to agree to pay 6 months rent upfront as we had no Guarantor We paid the holding deposit and was told as soon as the refurbishment was complete we would need to sign tenancy agreement and pay the 6 months rent. We have been in contact with the letting agency over the last 8 months asking when the house would be ready, they said the landlord was having difficulty getting an electric meter installed, we said we were prepared to wait as the house was in the area we wanted and close to family. well today I went into the office as i could see the new meter had been fitted to ask when the house would be available to move into. Only to be told the landlord will now only accept tenants with home Guarantor and 6 months rent. Can they do this to us ? we have waited over 8 months for this property. Surely its in breach of a verbal agreement, plus we have emails stating we had been accepted as tenants Only for them to move the goal posts.

    #2
    Was there any documentation relating to the holding deposit?

    If the answer you're looking for is can you make the landlord rent you the property, I think the answer is not realistically (it would cost a fortune).

    Can you put some pressure on the landlord/agent?
    Possibly.

    The holding deposit was in exchange for something, but, even if the landlord had agreed to let you the property and has now changed their mind, you'd be claiming compensation - I don't think you could force the landlord to change their mind.

    Have you tried getting in touch with your MP.
    They can sometimes be helpful - although it depends who your MP is?
    When I post, I am expressing an opinion - feel free to disagree, I have been wrong before.
    Please don't act on my suggestions without checking with a grown-up (ideally some kind of expert).

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      #3
      The most (and least) you can realistically hope for I think is to get the holding deposit back.
      I am not a lawyer, nor am I licensed to provide any regulated advice. None of my posts should be treated as legal or financial advice.

      I do not answer questions through private messages which should be posted publicly on the forum.

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        #4
        For there to be a Holding Deposit there must be a Reservation Agreement/Holding Deposit Agreement (HDA). What did the HDA state? If you have complied with your part of the HDA and the Landlord/agent has failed to enter into a tenancy agreement before the deadline for agreement (15 days after Holding Deposit was paid) the Landlord/agent must return the Holding Deposit in full. Get your Holding Deposit back and move on - the landlord/agent has destroyed your trust in them so why persist with a rotten relationship? Life is too short to have these type of people in your life.

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          #5
          Presumably holding deposit no more than 1 week's rent?
          I am legally unqualified: If you need to rely on advice check it with a suitable authority - eg a solicitor specialising in landlord/tenant law...

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            #6
            I think after 8 months waiting I would not want to rent from this landlord. Obviously he does not want to rent to you even if he finally managed the immense task (heavy sarcasm) or getting an electric meter installed.



            Freedom at the point of zero............

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