News
Press release
Urgent statement: "mytenancydeposit.co.uk"
04 June 2009
MTD Secure Limited trading as mytenancydeposit.co.uk is NOT part of Tenancy Deposit Solutions Limited (TDSL) trading as mydeposits.co.uk.
This company does NOT operate a Government-authorised Scheme for the protection of tenants’ deposits within England and Wales. The three official Schemes are:
- Tenancy Deposit Solutions Limited trading as mydeposits.co.uk
- The Dispute Service, also known as the Tenancy Deposit Scheme (www.thedisputeservice.co.uk)
- The Deposit Protection Service (www.depositprotection.com)
These are the ONLY three Schemes where landlords and letting agents can legally protect their tenants’ deposits.
The claim that “MTD Secure Limited is a company administering a tenancy deposit protection scheme by Tenancy Deposit Solutions Limited under contract from Communities & Local Government” is NOT true.
Any letting agent and/or landlord using this company should be aware that their deposits will NOT be protected. You should immediately use one of the three Schemes above with which to comply with the law. Not protecting with one of the three Government-authorised Schemes can lead to penalties for the landlord.
If you have already deposited funds with this company, you should seek legal advice immediately.
The relevant authorities have been informed.
For further information, please contact Ellie Irwin at mydeposits.co.uk on 020 7840 8925
* The professional bodies are:
- Association of Residential Letting Agents
- National Association of Estate Agents
- National Approved Lettings Scheme
- Royal Institute of Chartered Surveyors
For further information and case studies of tenants, landlords and letting agents who have been using mydeposits.co.uk, please contact:
Steven Hilton
mydeposits.co.uk
Email:
Tel: 020 7840 8906
Mob: 07508 031 084
Notes to editors:
About mydeposits.co.uk:
Mydeposits 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. Landlords 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.
About Hamilton Fraser Insurance:
Hamilton Fraser Insurance is the trading name of HFIS plc, a long-established insurance broker, authorised and regulated by the Financial Services Authority. Hamilton Fraser provides insurance services to clients throughout the UK and is located in New Barnet, Hertfordshire. Hamilton Fraser is a major player in the highly specialised property insurance sector, and offers a tailored product to both residential landlords and managing agents. The NLA and Hamilton Fraser have a long-standing relationship, with Hamilton Fraser offering its range of Landlord Solutions insurance products to members of the NLA.
About the National Landlords Association:
The National Landlords Association (NLA) exists to protect and promote the interests of private residential landlords. With almost 20,000 individual landlords from around the United Kingdom and over 90 local authority associates, it provides a comprehensive range of benefits and services to its members and strives to raise standards in rented accommodation. The NLA seeks to safeguard landlords’ legitimate interests by making their collective voice heard by local and central government and the media. The NLA seeks a fair legislative and regulatory environment for the private-rented sector while aiming to ensure that landlords are aware of their statutory rights and responsibilities.
