OpenRent Community

Proceed with contract via Rent Now without holding deposit

I have to tenants from overseas who are keen to move into my property. We have agreed rent in advance in lieu of referencing (they have just moved here) and guarantor (their parents are abroad and guarantor must be UK based)

I have paid for the Rent Now service however they are unable to pay the holding deposit as it only accepts UK debit cards, and in order to set up a UK bank account they need an address. It seems they are unable to pay the holding deposit using a credit card.

Is there no way to surpass the holding deposit and referencing stage, to get direct to the contract?

Many thanks,
Roxie

Why dont they pay you cash?

Hi Roxie,

This kind of situation occurs from time to time — usually the best solution is to pay holding deposit from the account of someone already based in the UK.

It’s also quite easy to get a UK bank account now, with many ‘challenger’ banks offering accounts, e.g. Monzo.

You can skip the referencing stage, yes, so it’s only this payment of a week’s rent for the holding deposit that is blocking things at the moment.