How much is the holding deposit?

The holding deposit for a Morro home is £300.

This payment reserves the specific home you have chosen while your application is processed. It is capped in line with the Tenant Fees Act 2019 and will not exceed one week’s rent.

Once the holding deposit has been paid, the home is taken off the market and your referencing process can begin. Referencing is carried out by Homeppl, Morro’s third-party referencing provider.

When your tenancy begins, the £300 holding deposit is credited against your first month’s rent. It is not an extra monthly charge and does not sit separately once your tenancy starts.

Before paying, make sure you are happy with the home you have chosen and understand the holding deposit terms. In some circumstances, the holding deposit may be retained, for example if false information is provided or the application is withdrawn without good reason.

If you have questions before paying, contact the Morro team through bymorro.com.