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What actually is a deposit? Here's what you need to know.

Will Southall

Will Southall

16 days ago - 1 minute read

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When you move into a new rented property, most of the time you need to pay a deposit.

They exist in case you mess up something in your property that needs fixing after you leave - like melted cheese in a toaster or wine stains on the bed...anything you can think of.

Deposits in the UK are capped at 5 weeks rent (6 weeks if you are renting a mansion). You can work this out yourself with this equation: your monthly rent x 12 / 52 x 5.

After you pay a deposit it needs to be protected. It's the law. Your landlord or the estate agent working for your landlord has 30 days to protect your deposit. You'll know 'cos they'll send you a certificate (maybe we could show one?). If they don't protect it in 30 days, you can get 3x your deposit back!

When your tenancy ends, the full deposit should get returned to you if everything is in good condition and if you didn't mess up the place.

@fronted.rent

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Saving for a deposit isn't always easy though, so we've created the Lifetime Deposit. With our Lifetime Deposit, you no longer need to save up for a deposit every time you move, you just use your existing deposit towards your next one!

We are on a mission to help more people move, so if you are moving soon, don’t forget your Lifetime Deposit.

Get a Lifetime Deposit: Get started

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Will Southall

Will Southall

16 days ago - 1 minute read

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Fronted is a trading name of Fronted Holding Ltd. We are registered in England and Wales (Company No.12278750), registered office address is Studio 403, 203-213 Mare Street, London, E8 3LY. Fronted Loans Ltd (Company No.12307305) is authorised and regulated by the Financial Conduct Authority under a Consumer Credit Licence (FCA No. 933316). Fronted Ltd (Company No.12304059) is authorised and regulated by the Financial Conduct Authority under a Broker Licence (FCA No. 933317).

Fronted Loans Ltd and Fronted Ltd is a wholly owned subsidiary of Fronted Holding Ltd. We are part of the FCA regulatory sandbox - Cohort 6. The regulatory sandbox allows firms to test innovative offerings in a live environment. More information on the FCA's regulatory sandbox can be found here.

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