New deposit scheme???

[suejohns]

Hi
Please can someone explain what this new deposit scheme is that's coming in in April... & how it works??
I understand that landlords have to use some kind of insuarnce policy or something to protect the deposit, but who is going to run these, how will they work & how much will they cost??
I can't seem to find anywhere the nitty gritty of the detail!

Thanks

[Paul_f]

log on to www.tds.gb.com

[islandgirl]

Thanks Paul - really interesting site. But it refers to agents managing the property. What if you do it yourself and don't use an agent?

[Paul_f]

Then you use the custodial scheme, instead of the insured scheme which will be for regulated agents; it will apply to all landlords and agents.

At the moment we are waiting to see who will be running both schemes but it should be announced soon! Mind you it's been put back twice already so don't hold your breath!