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How much is a deposit on a house?

9 replies

Emmielu · 01/05/2012 06:14

Is it the same as the rent or can it be more?

OP posts:
nooka · 01/05/2012 06:22

According to this you should be thinking of saving about a year's salary. The usual recommendation is 10% of the house value.

MirandaWest · 01/05/2012 06:26

Do you mean a deposit on a rented house or for a mortgage? Deposit on house I rent is a months rent plus £100.

nooka · 01/05/2012 07:13

Oh that makes much more sense! I rent my house through an agent and the deposit is one months rent (their stipulation).

Emmielu · 01/05/2012 10:13

Rented private through a landlord. Rent per month is 550. Would the deposit then be 6-700?

OP posts:
misslinnet · 01/05/2012 17:28

Last time I rented a house the deposit was 1 months rent.

Emmielu · 03/05/2012 22:10

I thought it was always 1 months rent. I thought i was hearing the landlord wrong at least 3 times in one call. I said 'is the first months rent & deposit together to make up £1100?' he said 'no its £1100 plus first months rent' then said something about it going into his landlord protection or something account. Where the hell do you get that figure from if its seperate to the first months rent? I know hes had bad tenants in there before hand but him also saying 'the last tenants really trashed the place & it cost me a lot to get the house back into shape' isnt my problem! Its the previous tenants problem. Why am i paying so bloody much for a deposit on a house that i havent mistreated or even lived in?!

OP posts:
MirandaWest · 04/05/2012 08:16

Your deposit goes into a protected scheme and that makes it safer for the tenant. I don't think there is a rule about how much deposits are - generally it is about one months rent but landlords are are free to ask what they want.

WhenDoISleep · 04/05/2012 08:50

We have always paid 6 weeks rent as deposit on the flats/houses we have rented over the last 12 years.

DaisyMaisyJessicaEmily · 04/05/2012 08:53

I wouldn't rent off that landlord if that was their attitude tbh Emmielu as it sounds like they'd be annoyingly troublesome.
As you say it's not your fault. They should have insurance to cover stuff like that anyway.

I have rented lots and it's never been anything other than a month's rent and another month's rent equivalent as deposit, but they can pretty much charge what they want.

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