You need to pay a reservation fee once we have confirmed a room is available, and before your booking is completed.
Your reservation fee of £250 is due when you book your room. This is not a deposit, and once paid, is not refundable.
Your reservation fee secures your room once you sign the Assured Shorthold Tenancy Agreement and your Guarantor signs the Guarantee (if required).
At the start of your tenancy your reservation fee converts to an advanced rent payment, and is either deducted from your single rent payment (if you pay for the year in advance) or from your first terms rental payment (if you pay in stages).
So, for example if the total rent stated in your contract is £4,500, and you are paying in advance, you will pay £250 before signing your contract, and the remainder, £4,250 before moving in.
If you are paying by three instalments with a UK Guarantor, then you will pay the £250 reservation fee on signing, 40% of the contract rent before you move in less the reservation fee (£1,800 – £250 = £1,550), £1,800 at the start of the second term, then £900 for the third term.