What Deposits are Needed to Secure A Property?




What deposits are needed to secure a property?

Once you have got united on a property with AN agent, there are 2 kinds of deposits that are needed, these are:

Holding Deposit: this sediment is usually asked for once AN agreement has been created however not confirmed in the contract. It’s necessary to notice that after this has been paid, you have got united to rent the property and also the agent has agreed to rent it to you. This may be the price of one week’s rent.

Security Deposit: Once work has been signed off, agents/landlords can raise a down payment. This is often to make sure that rent is paid while conjointly acting as protection against injury to the property caused by the tenants. This may be the price of five week’s rent.

Can a national be used as a guarantor?

As the GB continues to be a well-liked destination for international students. And young professionals, the question of a sponsor being a non-UK national remains ever-relevant. Generally, because of the enforce-ability of getting a sponsor, they have to be a GB national, which might vary from being a clan member to an acquaintance. Within the circumstances wherever a sponsor can’t be provided, agents/landlords can offset this by soliciting for six months’ rent direct.


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