Tenancy deposit scheme to stay

The biggest of the Tenancy Deposit Schemes the Deposit Protection Service now holds deposits of over £1.88bn according to Grant Shapps the Housing Minister.

This custodial scheme will stay with the current provider Computershare until 2016.

The two insurance backed schemes run by Mydeposits, run by the National Landlords Association, and the Tenancy Deposit Scheme, backed by ARLA only have a licence with the government to run the scheme until 2013.

It is expected that the government will start renegotiating the agreement for this contract next year.

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