Mydeposits to take over Capita's deposit protections

Mydeposits is to take over responsibility for Capital TDS’s protection in England and Wales.

Capita TDP stopped accepting new deposit applications in September, and confirmed their withdrawal from the market shortly afterwards.

All of Capita TDP’s existing deposit protections will be automatically transferred to my|deposits from December 1. Landlords, agents and tenants in England and Wales will also have access to the scheme’s dispute resolution service. Capita TDP has now written to all existing members informing them of the news.

Importantly, all transferred deposits will continue to be protected throughout the duration of the fixed term tenancy. Mydeposits will also reissue a new Deposit Protection Certificate and the relevant Information for Tenant’s leaflet for each protection.

Eddie Hooker, CEO of Mydeposits, said: “Capita TDP’s existing landlord and agent members can rest assured they’re in safe hands. The experience and knowledge we derive from partnership with the both the National Landlords Association  and the UK Association of Letting Agents means we’re well placed to manage the handover following Capita’s withdrawal.

“Landlords, agents and tenants will also have access to our dispute resolution service, giving them peace of mind that the deposit will be returned fairly if they’re unable to reach an agreement over its return.

“We’re on hand to speak to existing Capita members who have concerns regarding the transfer of their deposits. Landlords, agents and tenants can also visit our website (www.mydeposits.co.uk) where they can find details of the scheme and a range of useful guidance and advice on deposit protection issues.”