Tenant pulling out after paying deposit and signing contract

Please can someone help as I can’t believe what openrent are telling me.
My prospective tenants paid the holding deposit then the tenancy deposit and signed the contract. They have now decided to pull out (even though I’ve offered a greatly reduced rent). Openrent are telling me I’m due none of the deposit which I can’t believe! I’ve wasted weeks on this, spent two afternoons with tenant family, £49 for openrent and I don’t even get the holding deposits back!!! Then what on earth is the point of the deposits??

I thought the holding deposit was just for such an occasion its the tenancy deposit they get back .The holding deposit I thought is not paid back if the tenant pulls out after signing. If they carry on and rent ,its deducted from the first months rent… I never take a holding deposit as I conduct my own paperwork (apart from advertising on open rent), thus I control everything and it works for me , never had anyone change their mind

Fight it. They did the same thing with me. Eventually they gave me 3/4 of it back which is absolutely ridiculous. Everything is geared towards the tenant.

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