The Student Room Group

Accommodation installment due before loan comes in?

I feel really stupid because I'm trying really hard not to make a thread every time I get stuck on something to do with finance. I think SFE are sick of me ringing up twice a day already. :')

ANYWAY, I thought I was finally starting to get on the ball with all my finance and accommodation and was just about to pay my deposit when I realised that my first payment was due a week before my loan is estimated to come through. Now I know that sometimes students have things to pay for before their loan comes in but is this okay/right? I'm scared if I accept my landlord will hound me for payment or charge me more or something, and as far as I'm aware you can't change the date.

So how does this work?
(edited 10 years ago)
Reply 1
It seems to be a common issue. Could you negotiate with the landlord on this? The alternative may be to take out an overdraft (student account overdrafts should typically not incur interest, so long as you pay it off before you graduate) and then use your student loan to pay the bank as soon as the money goes in.

Failing that, are there any family members or friends who might be able to give you a boost for that week? They might have a greater over draft, especially if they have a credit card or are adults.
Reply 2
Unfortunately, I don't think using my overdraft/family's money is an option, money is v. tight at the minute and my overdraft is only £500 while my first installment is around the £1700 mark. I've just quickly tried ringing the number on the website for my accommodation, but the number isn't recognised! Doesn't sound promising...
Reply 3
Original post by cmtt
Unfortunately, I don't think using my overdraft/family's money is an option, money is v. tight at the minute and my overdraft is only £500 while my first installment is around the £1700 mark. I've just quickly tried ringing the number on the website for my accommodation, but the number isn't recognised! Doesn't sound promising...


That sounds really dodgy. Have you actually seen the property or has everything been arranged online? And £1700? That's an insane amount of money! You shouldn't be asked to pay any more than a deposit+1mth rent - is your rent really £850/month? May I ask which company this is?

In answer to your actual question, most students who have this difficulty turn to family or overdrafts. You could try asking your university but I don't think they can help until you're actually enrolled, which is just the same problem.
Reply 4
Original post by zergonipal
That sounds really dodgy. Have you actually seen the property or has everything been arranged online? And £1700? That's an insane amount of money! You shouldn't be asked to pay any more than a deposit+1mth rent - is your rent really £850/month? May I ask which company this is?

In answer to your actual question, most students who have this difficulty turn to family or overdrafts. You could try asking your university but I don't think they can help until you're actually enrolled, which is just the same problem.


I'm only paying in three installments rather than paying monthly, which I thought was weird, but hey ho. I'm with Liberty Living, and I was offered a place with them online through my university. I just accepted my place and put down my deposit and I also rang up with this query, and they said that if I email them evidence of the date my loan comes through, they can move the date for me. Still, I'm a little worried about the whole thing!
(edited 10 years ago)
Reply 5
Ah. I looked at their site, it seems they ask for an entire term's rent upfront. That makes more sense. So you're £170/week? That's still very expensive - I'm going to be renting in London and I have no intention of paying that much. Be aware that they're a private company with branches all over the UK, not the personal accommodation offered by your university. And there's no excuse for that £200 'booking fee'! :angry:

But if you're keen on the 'halls experience' then by all means, go for it. The loan will probably take a few days to a week after the date given to actually come through - it's only released to you after the university confirms your attendance. Make sure Liberty Living are okay with this. Personally I think you'd save a fortune if you rented a room in a shared (student) house, but I understand that can be difficult if you live too far away from uni to visit and view places.
Reply 6
Original post by zergonipal
Ah. I looked at their site, it seems they ask for an entire term's rent upfront. That makes more sense. So you're £170/week? That's still very expensive - I'm going to be renting in London and I have no intention of paying that much. Be aware that they're a private company with branches all over the UK, not the personal accommodation offered by your university. And there's no excuse for that £200 'booking fee'! :angry:

But if you're keen on the 'halls experience' then by all means, go for it. The loan will probably take a few days to a week after the date given to actually come through - it's only released to you after the university confirms your attendance. Make sure Liberty Living are okay with this. Personally I think you'd save a fortune if you rented a room in a shared (student) house, but I understand that can be difficult if you live too far away from uni to visit and view places.


I know thats cheaper than many of UCL's single rooms in halls
Reply 7
Original post by jelly1000
I know thats cheaper than many of UCL's single rooms in halls


Depends on the halls. In any case, I'm renting privately. It's much cheaper.
Reply 8
Original post by zergonipal
Ah. I looked at their site, it seems they ask for an entire term's rent upfront. That makes more sense. So you're £170/week? That's still very expensive - I'm going to be renting in London and I have no intention of paying that much. Be aware that they're a private company with branches all over the UK, not the personal accommodation offered by your university. And there's no excuse for that £200 'booking fee'! :angry:

But if you're keen on the 'halls experience' then by all means, go for it. The loan will probably take a few days to a week after the date given to actually come through - it's only released to you after the university confirms your attendance. Make sure Liberty Living are okay with this. Personally I think you'd save a fortune if you rented a room in a shared (student) house, but I understand that can be difficult if you live too far away from uni to visit and view places.


It's a 42 week contract and works out as £105 a week, which is about average as far as I can tell? And my booking fee is far cheaper than anyone else I know of! And yeah, I'm aware they're a private company, but I'm pretty sure the particular building I'm staying in is for students at my university only, though I could be wrong. If it is, I don't think it'll be too hard to deal with, given that they're quite directly involved with my university. They offer a free bus service to the uni as well, which is pretty cool.

I rang up and they're aware of the situation, and if I manage to get my grant in time (which I still haven't been able to send off for yet - eek!) I should be able to afford it no problem. Fortunately, I found out one of my friends was with them while she was at LJMU, and she's told me they're generally alright to deal with. Just hoping I get my loan/grant on time!
Reply 9
Original post by zergonipal
That sounds really dodgy. Have you actually seen the property or has everything been arranged online? And £1700? That's an insane amount of money! You shouldn't be asked to pay any more than a deposit+1mth rent - is your rent really £850/month? May I ask which company this is?

In answer to your actual question, most students who have this difficulty turn to family or overdrafts. You could try asking your university but I don't think they can help until you're actually enrolled, which is just the same problem.


My first installment is like £3600 lol

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