21
Dec
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.