What is the minimum deposit to rent a flat ?

This is dependant on the type of mortgage you have. If your bank is willing to borrow you up to 95% of the property value then a 5% deposit will serf ice, this is calculated on the property and its total value. So for example, a property valued at £200,000, and a bank offering a 95% value mortgage, then the deposit amount required will be £10,000. In order for you to avoid headache the recommended minimum deposit is 10%. This will leave enough equity within the property to satisfy the banks and speed up the mortgage process. In theory, the higher the deposit, the easier it should be to acquire a mortgage.

For all our rental properties we do comprehensive reference checks which comprise of; an employee reference, a bank reference and a previous landlord reference. If you do not have a previous landlord reference then a character reference will be required. Also if you are self employed then an accountant reference will be required. For students, a Guarantor reference will be required to help establish a method of payment insurance. All the reference checks are performed by Alpha Real Estates.