Deposit Scheme Hits 1 Million Mark

Tenancy deposit scheme Mydeposits has celebrated protecting its one millionth deposit.

The millioneth customer for deposit protection was Unite, the UK’s largest student accommodation provider.

To mark this achievement, the Mydeposits has donated £1,000 to Unite’s favourite charity, Students in Free Enterprise, which helps university students develop social enterprise and outreach projects in their communities. For the employees at Unite there was also a gift of £1,000 worth of champagne.

Chief executive of Mydeposits, Eddie Hooker, commented: “This is another significant achievement by the company and was fittingly purchased by one of the first organisations to join the scheme. 

"We have had a long relationship with Unite and they are growing to become one of our biggest customers.

“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.”

The Mydeposits scheme now protects an average 30,000 deposits every month. Although designed for landlords, estate and letting agent members such as Countrywide Residential Lettings.

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