Applying to Rent A Home On a New Business Contract Following Universal Credit Claim

[Paralytic]

they'll do an income check on you with open banking.

[GigiBronz]

yes the referencing agency asks you how you would like to proceed, statements or open banking, I think that the other option was less accessible.
they see you credit file anyway when they do a credit check on you.

if you fail the references, they withhold the holding deposit.

[eek]

yes the referencing agency asks you how you would like to proceed, statements or open banking, I think that the other option was less accessible.
they see you credit file anyway when they do a credit check on you.

if you fail the references, they withhold the holding deposit.

Estate agents don't have access to your credit file as they aren't offering credit. It's why they want to see statements or open bankng.

And keeping money is now illegal see Holding Deposits, Security Deposits & Agency Fees | OpenRent Blog

The TFA capped holding deposits placed after 1st June 2019 at one week’s rent, maximum. Anything over that now constitutes a prohibited payment.

If the landlord has failed to accept or reject the application by the deadline, then the money must be returned to the tenant in full.

1. The Tenancy Goes Ahead


If the landlord is happy with the referencing report, they will go ahead with the tenancy. In this case, the tenany will get the holding deposit back.

The money isn’t usually returned to the tenant’s bank account, however. The money is usually put towards the other move-in costs; namely, any rent paid in advance and the tenancy deposit.

So in practice, tenant’s don’t actually get the holding deposit returned. Rather, the value is simply taken off the amount they need to pay for the other move-in moneys. This is normal and nothing to worry about.
2. The Tenancy Doesn’t Go Ahead Because the Landlord Pulls out


If the landlord decides not to proceed, then the holding deposit should be refunded in full. Landlords are no longer allowed to deduct any fees or costs of referencing from your holding deposit.
3. The Tenancy Doesn’t Go Ahead Because the Tenant Pulls out


If you pull out, the landlord/agent can claim the holding deposit as forfeit. In this scenario, the tenant doesn’t get the deposit back. It goes to the landlord or agent to cover them against any loss of time and money.

There is a chance they will refund the tenant some or all of the deposit, but they may be entitled to keep it. It is, of course, worth asking them to return it, as they may be happy to.

So only if the tenant pulls out after paying the holding deposit does the landlord get to keep it.

And once again we have found you posting complete bulltulip.

[NowPermOutsideUK]

As someone who rents out flats to both housing benefit and also professional people I have never asked for a six month upfront payment.

if the dates for moving in (and the other person moving out work) and you can afford the rent based on current income that is usually fone

for housing benefit people if the lha rate covers the monthly rent (and this is all down south in London) that is also fine

near in mind for people on housing benefit they normally end up with a 18square metre studio flat which is in disrepair (and they are grateful for that)

for professionals the flats are smarter and they pay less per square metre in rent

honestly the housing benefit tenants are in many ways better. They pay more per square metre and never complain or ask for things. It’s the professionals who ask for farrow and ball paint and nest smoke alarms.

[GigiBronz]

Estate agents don't have access to your credit file as they aren't offering credit. It's why they want to see statements or open bankng.

And keeping money is now illegal see Holding Deposits, Security Deposits & Agency Fees | OpenRent Blog



So only if the tenant pulls out after paying the holding deposit does the landlord get to keep it.

And once again we have found you posting complete bulltulip.

Have you heard of a referencing agency that does the credit and affordability check for the letting agency?

if you do not make the affordability criteria, I think it is something like rent x30 < your yearly salary. Which you sign upon when proceeding.
not entirely sure about the credit check, I will have to check if I had to pass one. I think I got a report as well for affordability from the referencing agency.


some people here are out of touch.