What is Insurance?

Our insurance scheme means you paid to join mydeposits
and also pay a protection fee that lets you hold the deposit
in your bank account.

If this is how you protect deposits login here

Member LOGIN


What is Custodial?

Our custodial scheme means that you joined mydeposits
for free and transfer the deposit money to us to hold.

If this is how you protect your deposits, then use:

Landlord login or Business login

Landlord LOGIN Business LOGIN

Get all the latest news to your inbox

Get all the latest news to your inbox

February 14

2017
by mydeposits
Fixing our broken housing market – a view from Eddie Hooker

CEO of mydeposits, Eddie Hooker, discusses some of the trials facing the private rented sector following the Government’s publication of the eagerly awaited white paper on the housing market.

Some of the statistics quoted in the paper on the housing market are frightening; the average home in the UK costs almost eight times the average salary, below average income earners, spend more than a third of their income on housing and more than 4 million households rent in the UK – nearly twice as many as 10 years ago.

The solution is building more houses, make renting fairer and providing financial assistance to those that need it.  But can it be realistically achieved?

The May administration has recognised that the private rented sector plays an important part of the long-term solution for the UK housing market.

The plans laid out focus on affordability for renters and driving up standards. I reinforce the government’s message:  letting agent fees to tenants will be banned. Client Money Protection insurance again is mentioned, with a clear suggestion that this important consumer protection tool will be made mandatory for all letting agents. Mandatory electrical safety checks and properly enforced licensing of Houses of Multiple Occupation are also mentioned. Finally, the question of longer fixed tenancies has been raised again. In my experience, most landlords also want the security of income to support their investment and will grant longer term tenancies wherever possible.  Flexibility is an important aspect in the rented sector.  Everyone is different.

It’s a challenging time ahead for the private rented sector.

With so much to digest it will be fascinating to watch the progress of these initiatives over the coming years. Whilst it is clear that there is still room for improvement, the report itself shows that standards are already on the rise, with 65% of private tenants happy with their tenure, increasing by 17% since 2005.

Read more about Eddie’s views on the white paper by reading the full blog here.

This website uses cookies to ensure you get the best experience More info