21 Dec

One millionth buy to let deposit protected

One millionth buy to let deposit protected

Mydeposits.co.uk has revealed that it has achieved a milestone in protecting its one millionth deposit for buy to let properties.

Yesterday (December 20th 2010), the money protection company announced its achievement, with the support of lettings agents and buy to let owners.

"Our popularity among landlords and letting agents has been quite extraordinary. We've reached one million deposits in just over three-and-a-half years since mandatory protection was introduced in April 2007," said Eddie Hooker, chief executive of the organisation.

Mydeposits.co.uk looks after more than 30,000 deposits for landlords every month and provides a free dispute resolution service for buy to let owners, which has enabled it to sort out more than 120,000 disagreements about the charge since it was established.

Last week, the group revealed that letting agents and landlords can purchase multiple deposit protections before the VAT increase comes into effect from January 4th 2011, in an attempt to save money by buying them at a lower rate.ADNFCR-1222-ID-800304220-ADNFCR

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