Sovereign Newbank

Cooling Off Period:- 
1. After signing your contract, you have a 24-hour cooling-off period during which you can cancel your booking.
2. The cooling-off period begins immediately after the contract is signed.
3. To cancel your booking within this period, you must notify the property team in via writing am e-mail.

Replacement Tenant:- 
If for any reason you are thinking of leaving your accommodation after you have moved-in, please speak to the local team at your property first. If you decide to proceed with leaving your accommodation early, please be aware regardless of occupancy/residency status you and your guarantor (if applicable) will be required to continue to meet the obligations in your tenancy agreement.In limited circumstances, The property may agree to release if the following criteria are satisfied;

1. You find a suitable replacement (who must be over 18 and enrolled as a full-time student at university/college) to take a new tenancy agreement for your room for the remaining portion of your contractual term, and;

2. The incoming tenant must enter into a tenancy agreement with them and satisfy the necessary steps of the booking/application process.

Any refunds due will not be processed until such time as the incoming tenant has completed the booking/application process, paid their rent (either in-full or their first instalment) and checked-into the accommodation.

The current tenant and guarantor (if applicable) will remain liable for rental payments until they confirm in writing that you have been released from the tenancy agreement and its obligations. Requesting early release does not constitute agreement that early release will be granted.

Please note: A replacement tenant fee may be required in this situation. 

No Visa No Pay:- 
This policy is applicable to First-year students and first-time residents only.
If you're a first-year student or moving into the property for the first time, it’s understood that visa-related issues can arise. To accommodate this, a flexible cancellation policy is offered for such situations.

If your visa application to study in the UK is denied, you can cancel your booking and receive a refund for your damage deposit and any rental payments made. To process this, simply submit a written cancellation request along with proof of your visa rejection. Be sure to do this within 7 days of your visa rejection, and no later than 7 days after A-Level results are released.

Please note that the holding deposit is non-refundable, and this policy applies exclusively to September intakes.

No Place No Pay:- 
This policy is applicable to First-Year Students only
If you're a first-year undergraduate student and things don’t go as planned with your university offer, the property team is here to help. Whether your university withdraws your offer because you didn’t meet the required grades or you exceed expectations and decide to attend a different university, you may be eligible to be released from your Tenancy Agreement.

To apply for a release, you’ll need to provide proof of your situation. This could be a written rejection letter from your university or UCAS, or a screenshot of your UCAS status confirming you didn’t meet the required results. If you’re switching to a different university, you’ll need proof of acceptance at the new institution via UCAS Adjustment.

It’s important to act quickly—your property team must receive these documents within 7 days of your results being published. Once the documents are verified and the details are confirmed, your Tenancy Agreement will be canceled, and you’ll receive a full refund of any damage deposit or advance rent you’ve paid.

Other cancellation policies
To confirm your booking, both you and your guarantor (if applicable) must complete the booking process and sign the tenancy agreement. If you or your guarantor fail to provide the required information within the specified time frame, the property reserves the right to withdraw your accommodation offer.