Guarantors & holding deposits
Lesson 3 of 13 in our free Housing & Renting guide: a 5-minute money game with the key points below.
Shown for England. Some rules here are different in Scotland, Wales and Northern Ireland: the lesson shows your nation's version.
This lesson is in the full version.
Free with a code from your uni, college, council, landlord or employer (worth £600/year). Lesson 1 of Housing & Renting is free for everyone.
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Questions you'll answer
Rent is £520 a month. What's the MAXIMUM holding deposit in England?
Mo's mum is his guarantor on a JOINT contract for a 5-person house. What's the big risk?
Quick facts
- Myth: “In England, landlords and agents can charge you for viewings.” — Viewing fees are banned under the Tenant Fees Act 2019.
- Fact: “A holding deposit should normally go towards your first rent or deposit once you sign.” — Or be refunded — unless you pull out or gave false information.
- Myth: “If you don't have a UK guarantor, you have no options.” — Some unis offer guarantor schemes, and there are paid guarantor services. Ask the uni accommodation team. (In England, landlords can no longer demand months of rent upfront instead.)