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What is a High Risk Housemate Deposit?

A High Risk Housemate Deposit helps to cover the outstanding balance on your household account and, in most cases, will help to build credit on your account to serve as a buffer if this housemate continues to miss payments. 

This is usually a last resort when we have exhausted all routes of chasing those housemates in debt and the payment of supplier bills is at risk. As highlighted in our T&Cs, "1.3. Unless expressly provided otherwise, each of the Tenants shall be jointly and severally liable for their obligations under these Terms."

We use the money you pay to us to pay your bills to your suppliers, we are not a credit provider. If your household account is behind due to one or more housemate who are not up to date with their monthly payments then there isn't enough money to pay all of your bills. This means there is a high risk of the disconnection or closure of your services if the outstanding balance isn't paid, and we really don't want this to happen.

Not only does this affect payment to your suppliers, this has an impact on the amount of credit building on your account before winter, when you'll use more energy therefore your bills will be higher.

As outlined in our T&Cs, "7.9. We may at any time ask you to pay a deposit of up to £50 (Deposit), unless we agree otherwise in writing. Following termination of these terms we may use your Deposit to pay off any money you owe. Your Deposit will be returned to you if your Final Statement shows your account is in credit, excluding your Deposit."

The deposit is applied to all housemates and serves as a buffer until you move out. If you end up using less than you have paid for, you will be refunded the difference once we have completed your final account review when you have moved out.  

 

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