No deposit tenancy option

[Lordhavemercy]

Hello all, I am hoping someone can help me with this please
Is there a standard way/fomular to calculate what the cost of no deposit option is please?
I read somewhere online that it's one week's rent plus £49. But I am not sure if the same applies to all agents and insurance firms that offer the no deposit tenancy scheme

It varies. The standard is one weeks rent plus an annual top up fee which depends on the value of the property. The problem with a no deposit scheme is that the money you pay is not refundable and you are still liable to pay extra for any damages so you are essentially paying premium rent. I wouldn’t do it unless absolutely desperate and make saving up a deposit a priority so you can get off the no deposit scheme as soon as possible.