Moving home can be a hassle, which is why we’d like to make things just that bit easier.

With our deposit transfer service , you can use your existing deposit towards your next place when you move, essentially moving your deposit from one property to another.

Your old landlord will most likely hold onto your deposit until you've moved out. Instead of saving up a whole new deposit, we will lend you one so you can move straight away. Once you've settled into your new home, you can repay us when you get your old deposit back or in 90 days.

To be eligible to apply, you must:

We aren’t able to support applications for anyone looking to move to Scotland or Northern Ireland at this moment in time.

When you make an application, we carry out a soft credit check, which doesn't affect your credit file. We assess this information to see if you’re eligible.

If you’re eligible, we’ll pay your deposit to your chosen Estate Agent.

The amount we can lend you is made up of the value of your old deposit (or if you live with housemates, your existing deposit divided by the number of tenants on the certificate). If the deposit for your new property is higher than the amount we can lend, you will need to pay a top-up to cover the difference.

When you apply, we’ll ask you a few questions about your current deposit, and prompt you to attach a copy of your Deposit Certificate. This is required so we can verify the details with the relevant Deposit Scheme your deposit is protected with.

Before you can use our deposit transfer service, you’ll need to pay us a Transfer Fee in advance. If you made an application on or after 11/01/2023, your Transfer Fee will be a fixed amount of £69. If you made an application before this date, click here to find out more

If your new deposit is more than the amount you can borrow from us, you’ll also need to pay the difference in advance. If you need to make a top-up because your new deposit is higher, you’ll make both payments at the same time.

You may also need to pay your Upfront Rent Payment in advance. If you need to pay these funds in advance, we’ll give you a breakdown of all the costs which you can view when you go through your application.

All upfront payments must be paid by using a valid UK bank account that is registered in your name.

Once your application has been approved and you’ve found a new property, you’ll be able to login to your account and view key information about your loan and your full loan agreement. You’ll need to read through this carefully and once you’re happy, you can agree to the terms.

We’ll then send you a copy of your loan agreement via email for your records.

When you’ve agreed to take out the loan, the next step is to pay your fee, any deposit top-up amount plus any upfront rent payments and set up your Direct Debit Instruction so that we can collect your repayments. After you do this, we’ll send the funds over to your new estate agent within 1 working day.

When we’ve sent the funds to the estate agent, you’ll have 90 days to repay your loan. This means that once you've settled into your new home, you can repay the balance with your old deposit and you’ve got some time for your old landlord to pay the deposit back to you.

If there are any deductions on your old deposit, you still have to repay the full deposit amount to us.

If your application has been approved but you haven’t quite found a new place yet, your approval is valid for 30 days.

After that time we might need to check if your application is still eligible.

If you live with housemates and you split the old deposit between you, the maximum amount we can lend you will be determined by the value of your existing deposit, divided by the number of tenants on the certificate.

On some occasions, you may end up in a dispute with your landlord, estate agent or between your housemates after you move out.

We aren’t able to help out with the dispute itself, but we did write a handy article here which tells you all you need to know about minimising the deductions on your current deposit.

It’s quick and easy to register, all you need to do is head over to this page on our website and follow the steps to get started.

We’ll need a few details from you, including:

Once you’ve entered these details, you can submit the form to us.

After you’ve entered your details, we carry out a soft credit check, which doesn't affect your credit file and we assess the information to see if you’re eligible.

If you’d like to learn more about how a soft credit check works, you can find all the information you need in this article.

After we’ve assessed your details, we'll let you know if you’re eligible.

When you apply, we’ll ask you a few questions about your current deposit, and prompt you to attach a copy of your Deposit Certificate. This is required so we can verify the deposit information.

If you don’t have access to your Deposit Certificate or you aren’t sure where to find it, we wrote a handy guide to help you out with this.

We’ll contact the relevant Deposit Scheme to verify the information on your Deposit Certificate. If we need any additional information or we need to ask you any questions, we’ll get in touch.

The details we’ll need from you are:

Once we’ve verified the information on your Deposit Certificate with the Deposit Scheme, your application has been approved and you’ve found a new property, you’ll be able to view key information about your loan and your full loan agreement in your account.

You’ll need to carefully read through this document and agree to it before we can proceed with the next steps. Once you’ve agreed to the terms, we’ll send you a copy of your loan agreement via email for your records.

Before you can use our deposit transfer service, you’ll need to pay us a Transfer Fee in advance. If you made an application on or after 11/01/2023, your Transfer Fee will be a fixed amount of £69. If you made an application before this date, click here to find out more

Once you’ve found a new property, if your new deposit is higher than the amount we can lend you, you’ll be asked to make a deposit top-up payment. This payment will be taken at the same time you pay the Transfer Fee. This payment will need to be paid before we can get any funds to your estate agent. If we don’t receive the funds in advance, we won’t be able to proceed any further with your loan.

You may also need to pay your Upfront Rent Payment If you are required to send these funds in advance, we’ll provide you with a breakdown of all the costs which you can view when you go through your application.

For some more information on fees, repaying your loan and what happens if you miss a repayment, please click here.

Once you’ve agreed to the loan terms and made your upfront payments, we’ll send the funds to your estate agent within 1 working day.

When we’ve sent the funds to the estate agent, you’ll have 90 days to repay your loan. This gives you some time to settle into your new home 🏡

If you do have any further questions, you can chat to us via the ‘Contact Us’ option in the menu bar, send us an email to: [email protected] or give us a ring on 0203 870 2830.