Holding Deposit Policy

1. Purpose of the Holding Deposit

The holding deposit reserves the property for you while we:

• Carry out reference and Right to Rent checks;

• Collect guarantor details and required documentation; and

• Prepare the tenancy agreement for signing.

During this time, the property is taken off the market.

2. Amount Payable

• The holding deposit is £100 per person.

• The total tenancy deposit is £400 per person.

• Once the tenancy proceeds, the £100 holding deposit is deducted from the total £400 deposit,

  leaving a £300 balance to be paid before the tenancy agreement is signed, along with the first month’s rent.

3. When the Holding Deposit Is Refunded

You will receive a full refund of your holding deposit if:

• Big Rock Estates decides not to proceed with the tenancy; or

• The tenancy does not go ahead through no fault of your own.

4. When the Holding Deposit May Be Retained

The holding deposit may be kept if:

• You withdraw from the tenancy after agreeing to proceed;

• You fail a Right to Rent check;

• You provide false or misleading information that affects your suitability as a tenant; or

• You do not take reasonable steps to enter into the tenancy (for example, failing to sign the agreement or provide required documents).

If your holding deposit is retained, Big Rock Estates will always provide a written explanation.

5. Applying the Deposit

If your tenancy goes ahead:

• Your £100 holding deposit will be deducted from the £400 total deposit;

• The £300 balance and first month’s rent are payable prior to contract signing; and

• The full £400 deposit will be registered with an approved tenancy deposit protection scheme (e.g. MyDeposits).