New custodial scheme launched by mydeposits

New custodial scheme launched by mydeposits

0:01 AM, 1st April 2016, About 6 years ago

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mydepositsmydeposits 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.

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