i can help you for your concerns.
As you have explained that a holding deposit was transferred into your account via bank transaction.
If tenant pull out, the landlord/agent is entitled to holding deposit as forfeit. In this scenario, tenant does’t get his deposit back. It goes to the landlord or agent to cover them against any loss of time and money.
Holding deposit is not a security deposit.
The security deposit is the large sum (usually 4-6 weeks rent) paid at the start of a tenancy. It is returned to tenant at the end of the tenancy, but the landlord can make deductions from it to pay for the repair of any damage done to the property.
When a tenant pay the security deposit, the landlord must register it with a government-approved deposit protection scheme. They also have to send an information to tenant about the scheme they’ve used, how much money makes up the deposit, and how you can contest any deductions they may make.
This information is called the prescribed information. You’ll need to sign a document saying that you’ve received it within a time limit of 30-days from when you pay.
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