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Our custodial scheme means that you joined mydeposits
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July 13

by mydeposits
A year on from the deposit vs no-deposit debate – opinion piece

A year ago this month, Eddie Hooker, CEO of Hamilton Fraser, parent company to mydeposits, released a paper titled ‘Deposit or No-Deposit Insurance – What we need to know.’ Eddie has now written a new opinion piece titled ‘Deposits or No-Deposits, one year on’ to explore what has changed in this time.

He states;

“The original paper discusses the need for stakeholders in the private rental sector – landlords, agents and tenants alike – to ensure that before signing up for no-deposit insurance products, they fully understood how their chosen model worked and, most importantly, whether these products really were the solution to the affordability problems that traditional deposit taking caused.

“The past 12 months or so have seen many legislative changes to the lettings world that have, or will, impact landlords and letting agents. The over-arching aim of the changes has been to put more power into the hands of the consumer, especially the tenant. Housing, and in particular renting, has become a political priority for the current administration.

“Given the political context it is no surprise that the increasing cost of renting is in the spotlight at the moment. So long as the country tries in vain to catch up with house building demand, the rental sector must continue to grow and flourish to meet the shortfall in housing.

“As you would expect, my focus is deposits. This paper aims to bring us up to date in this space, to spark further debate as to whether traditional deposit taking is past its sell by date and explore whether the arguments of a year ago still hold true.”

You can read the full paper here.

A year on from the deposit vs no-deposit debate – opinion piece - Image showing the deposits or no-deposits one year on guide

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