Written by Martin Prime and produced by Tim Laws, it released in the United Kingdom on 2 December 2002 as the fifth and final single from the group's debut studio album, Thinking It Over (2002).

It was the band's first ballad to be released as a single, and despite low airplay, the song was a minor hit across Europe, being successful in Ireland, the Netherlands, and Switzerland.

The "Single Remix" version of "Holding On for You", known in the United Kingdom, was also issued internationally, under the pseudonym of the "B&Q Mix".

The original version of the track appears on To Those Who Wait in 2001, the band's debut release, exclusively in Japan.

The music video for the track was filmed in September 2002, and features each of the five members of the band making their way to the Budapest Metro, from their respective locations.