How is the holding deposit paid?

Tenants pay their holding deposit when they submit their application to rent. The holding deposit is paid through the lettingaproperty.com platform.

Most tenants opt to pay instantly via Open Banking, however, they can also opt for a manual bank transfer that may take up to five working days to be processed.

Please be aware that using Open Banking to pay a holding deposit will incur a 6% transaction fee. Paying by manual bank transfer is free of charge.

The holding deposit funds are securely retained by lettingaproperty.com until returned to the tenant.