Holding Deposit Question.

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  • Holding Deposit Question.

    Hi,

    I've started looking for a flat and read through the 'terms of business' of one of the agencies I'm looking through. I noticed that with regards to a holding deposit, it would be non-refundable in the event of not passing the reference checks. This is not something that I have come across before. Is it normal practice? It seems a bit unfair.

    Thanks.

  • #2
    Its highly unfair and i would be refusing to do business with such agents!
    GOVERNMENT HEALTH WARNING: I am a woman and am therefore prone to episodes of PMT... if you don't like what I have to say you can jolly well put it in your pipe and SMOKE IT!!

    Oh and on a serious note... I am NOT a Legal person and therefore anything I post could be complete and utter drivel... but its what I have learned in the University called Life!

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    • #3
      Is it legal? I saw a lot on here about 'unfair terms' in contracts.

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      • #4
        If you don't question it the agent will get away with it but if you were to take him to court he most likely would have to give you the money back.

        The best bet is to avoid this agent or make them remove this term from your receipt.
        Bear in mind an angent who tries this on is likely to try other things on like charging an arm and a leg for renewing a 6 month AST.

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