2 weeks deposit up front to secure flat

Hey everyone,

My wife and I have finally found a flat we can afford in an exceptionally well located part of West London (Shepherds Bush).

We have our initial meeting today with the letting agency to secure the preliminary paperwork, and I had a question that I'm hoping can be answered before we have that meeting here in a few hours.

Is it a normal practice here in London to go ahead and pay 2 weeks deposit as to secure the flat before the actual moving date? (today being the 29th of June, move in day 11th of July)
Upon moving in, we're expected to then pay the remaining 4 weeks deposit as well as rent, agency fee.

I just dont want the agency to pull a runner on us once we've forked over almost £500. I'm trying to do my research on the agency itself, and to this point I can't find anything negative. They're also advertising properties on all the major websites, Rightmove, Zoopla, Propertyfinder, so that gives them a bit of credibility in my mind. And the agent we met yesterday did not seem dodgy in the slightest, he was extremely friendly and wanted to work with us without having asked once for any money upfront.
(I'm just extremely cautious when it comes to giving money to people in a foreign country, even here in the UK. And we all know how London flat hunting is ... )

Thanks in advance!

Tyler

There is a scam where people use Air BnB to get a flat for the weekend and then spend the whole time collecting "advance deposits" just like the one you've been asked to pay.  So, you are right to be cautious. 

That doesn't mean it's necessarily a scam, I haven't rented a flat for a long time.  Do they have an office that you will give this deposit in?  Is it refundable and under what circumstances?  Is it covered by the government scheme set up to protect those types of deposits?

Yeahh, so its definitely no airbnb. We checked the place out yesterday, and is in good looking order. The current tenant is 85-90% moved out.

Today is just to sign the initial paperwork, but the agent had not spoken of what we'll need to pay upfront today. He had spoken yesterday only of the 2 week deposit to secure the flat and cancel all of the other viewings, but didn't mention if that was to happen today.

Its the thing though, isnt it. Its a solid location, flat itself isn't anything fancy, but its not run down at all. You're paying for the location, and those were exactly his words with which I completely agree.

We'll see here in a few hours. I'm reading up on my negotiating tactics and getting my game face on! Ready for my first London flat experience!

Normally you pay the fees up front (application, credit and reference check).  The deposit is paid at the signing of the less and put into a deposit protection account.  It's not unheard of for foreigners to pay six months up front (as no UK credit).

If they provide proof that the deposit is being placed into the scheme, I'd be fine with it.

Remember they are not legally able to lease to you until you have a visa.

Normally you pay the fees up front (application, credit and reference check).  The deposit is paid at the signing of the less and put into a deposit protection account.  It's not unheard of for foreigners to pay six months up front (as no UK credit).

If they provide proof that the deposit is being placed into the scheme, I'd be fine with it.

Remember they are not legally able to lease to you until you have a visa.

Yeah thats completely understood, and technically i'm not moving in at this time anyways as i have to return to the states to finalize all of my paperwork.
The flat will just be occupied by my wife until my visa is finally processed upon which we can renegotiate the tenancy agreement.
No work = difficulty in paying rent ... thank goodness she has an amazing job herself for right now! it'll just be a tough couple of months for her until i am finally there.

Yeah thats completely understood, and technically i'm not moving in at this time anyways as i have to return to the states to finalize all of my paperwork.
The flat will just be occupied by my wife until my visa is finally processed upon which we can renegotiate the tenancy agreement.

Make sure that they are willing to provide a letter to the effect that you will have permission to live there/will be added to the lease, conditional on you being granted your visa. You will need it for your visa application.

I've always paid the deposit on the day I sign the lease, which can be signed prior to the move in or start date of the tenancy agreement.  The landlord or agent should give you details about on the deposit protection scheme too.

Credit check fee when you make an offer to rent the place.
Deposit when you sign the tenancy agreement.
Rent for the next month on the day the tenancy agreement starts.