Is the holding deposit refundable?

The holding deposit is credited against your first month’s rent once your tenancy begins. In normal circumstances, this means it is effectively returned through your first payment rather than paid back separately.

There are some situations where the holding deposit may be retained. This may happen if:

• You fail the Right to Rent check
• You do not meet the referencing or affordability criteria
• You provide false, misleading or materially inaccurate information
• You withdraw from the process without good reason

If Morro retains the holding deposit, the team will confirm the reason in writing within 7 days.

Where something outside your control has affected your application, such as redundancy or another exceptional circumstance, the team may use discretion. It is always best to speak to Morro as soon as your situation changes.

Before paying the holding deposit, make sure you are happy with the home and ready to move forward with the application.