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April 1

2016
by mydeposits
mydeposits Launches New Custodial Scheme

mydeposits is delighted to announce the launch of its new government-authorised custodial tenancy deposit protection service in England and Wales today (1 April 2016).

The scheme also unveils a new-look website and refreshed branding that’s been designed based on feedback from its members and tenants.
Eddie Hooker, mydeposits CEO said,

“Today is an important step forward for landlords, letting agents and tenants because for the very first time there will be a choice between custodial deposit providers”

“As the longest serving Chief Executive Officer of all the deposit schemes, I’ve seen first-hand how tenancy deposit protection has helped raise standards and addressed the implication that landlords and agents unfairly withhold deposits.

“We’ve used the experience we’ve gained since 2007 and held numerous focus groups with everyone who uses our scheme in order to create this new service. We have further enhancements planned throughout 2016 that will make deposit protection with mydeposits even quicker and easier”.

New financial guidance for tenants in collaboration with Barclays

mydeposits has also teamed up with Barclays to provide financial guidance for tenants, called Money Works.

Eddie Hooker added:

“We protect deposits for a hugely diverse number of tenants, and with renting on the rise it’s important that they have access to trusted financial support.

“Our new mydeposits Money Works service is a hub of content and expert guidance that caters for all tenants’ needs, be it saving for a first home, pension advice or managing spending”.

mydeposits Money Works will be available for all tenants whose landlords and businesses use the new mydeposits custodial service, and the initiative will be rolled out to tenants whose landlords use mydeposits existing insurance schemes in England & Wales, Scotland, Northern Ireland and Jersey in the coming months.

For more information about mydeposits custodial deposit protection visit: www.mydeposits.co.uk

For more information about mydeposits Money Works, visit:

https://wealth.barclays.com/global-stock-and-rewards/en_gb/home/what-we-offer/moneyworks.html

-ENDS-

For further information, please contact:

Sam Haidar
PR Manager
0207 840 8906
press@landlords.org.uk
@mydeposits

NOTES TO EDITORS:

About my|deposits:

my|deposits is the trading name of Tenancy Deposit Solutions Limited, a company jointly owned by the National Landlords Association and HFIS plc T/A Hamilton Fraser Insurance (the Scheme Administrator) to deliver an insurance-backed tenancy deposit protection scheme under contract from Communities & Local Government.
my|deposits aims to support landlords and agents to comply with the legislation and provide everyone with the confidence that deposit money is held securely for the duration of the tenancy.
Landlords and letting agents wishing to use this scheme are required to register with the Scheme Administrator. They can find out more and register by visiting www.mydeposits.co.uk.
Registered members of the Scheme are able to protect and unprotect deposits at the beginning and end of tenancies. Fees are tax-deductible.
In the event of a dispute at the end of the tenancy agreement, both parties are offered access to alternative dispute resolution (ADR). This procedure will be evidence-based, relying on documentation and records.
Tenancy Deposit Protection (TDP) was introduced in April 2007 by the Housing Act 2004 as part of a package of measures to raise standards in the private rented sector.

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