Islington & Clerkenwell
Estate Agents

Holding Deposits

A Lettings Consultant will help you fill in the Tenancy Application. A holding deposit of £200 (Minimum amount - sharers / students are required to pay a higher holding deposit) will secure your chosen property, subject to contract.Your deposit will be returned in full if the owner is unable to proceed with the letting.

Holding deposits are calculated on a sliding scale as follows:

Standard minimum holding deposit: £200 per individual/couple/family
£100 per person for 3 and more adults.

Costs, Timescales

Allow a minimum of 5 working days between placing a holding deposit and moving into your home, subject to the date the property is available. Before you move in you will need to sign the Tenancy Agreement and pay at least one month's rent in advance, a similar sum as a security deposit and an Administration Fee:

One Adult Applicant: £110 plus VAT
Two Adult Applicants: £160 plus VAT
Three Adult Applicants: £210 plus VAT
Each additional adult: £50 plus VAT

This must be paid before or when signing the Agreement by Bankers Draft, Building Society cheque, Switch/Delta or Visa/Mastercard (there is a small surcharge of 1.55% for payment by credit card). There are normally no other costs incurred at the end of the tenancy unless cleaning or repair is needed.

References & Guarantors

You will need to provide certain information to complete your Tenancy Application Form. For example, we require references from your employer and, where applicable a previous landlord. If you are self-employed we will need a reference from your chartered accountant. If you are a student you will need a guarantor such as a parent, relative or close friend who will guarantee the rent and adherence to the Terms and Conditions of the Agreement. Companies seeking properties for their staff will need to provide bank chartered accountants and solicitors references.