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CORONAVIRUS UPDATE

See the latest Coronavirus statistics from across the world on our world map SEE MAP UK Confirmed cases: 267,240 | UK Deaths: 37,460 SEE MAP Italy Confirmed cases: 231,139 | Italy Deaths: 33,072 | Italy Recovered: 147,101 SEE MAP Spain Confirmed cases: 236,259 | Spain Deaths: 27,117 | Spain Recovered: 150,376 SEE MAP See the latest Coronavirus statistics from across the world on our world map SEE MAP UK Confirmed cases: 267,240 | UK Deaths: 37,460 SEE MAP Italy Confirmed cases: 231,139 | Italy Deaths: 33,072 | Italy Recovered: 147,101 SEE MAP Spain Confirmed cases: 236,259 | Spain Deaths: 27,117 | Spain Recovered: 150,376 SEE MAP

TODAY'S OTHER NEWS

Carter Jonas, Marsh & Parsons and James Pendleton to offer Zero Deposit guarantee

Carter Jonas, Marsh & Parsons and James Pendleton have become the latest letting agents to sign up to the Zero Deposit guarantee, a tenant’s deposit replacement product that is to be offered across the 31 offices belonging to the companies. 

A number of letting agents, including Knight Frank, John D Wood, Acorn Group, Douglas and Gordon, Foxtons, Barnard Marcus, and KFH, are now offering the Zero Deposit replacement product, launched in 2018, allowing tenants to acquire an insurance policy in lieu of a deposit.

Lisa Simon, head of residential division at Carter Jonas, commented: “We chose to work with Zero Deposit because not only do they provide tenants with an alternative to providing a cash deposit which makes our landlords’ properties more attractive, they also give us the ability to offer our clients the equivalent of six weeks deposit following the introduction of the Tenant Fees Act in the summer.

“Furthermore, as Zero Deposit works with TDS, it meant we felt very comfortable about the arbitration process and our standard paperwork was more applicable which meant less change for our clients.”

There are now more than 2,640 letting agent offices nationwide offering Zero Deposit to both landlords and tenants alike, and there still appears to be plenty more room for growth. 

Jon Notley, CEO at Zero Deposit, said: “2020 is proving to be another year of growth for Zero Deposit as we work hard to ensure that all agencies in the UK know that there is a credible alternative to deposits for their landlords which offers more protection.

“We’re delighted to welcome these new brands on board and expect to share news of similarly impressive additions in the coming months. The importance of an FCA-authorised option that protects tenants, landlords and ultimately agents has come to the fore with recent press coverage.  

“We’re setting new records on a monthly basis as we make finding a deposit-free home easier, fairer and faster. With this continued growth and track record, it’s no surprise that we are welcoming so many agents on board.”

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    Zero deposit means zero chance of becoming my tenants. Next more financially responsible tenants please!

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    And when it comes to making a claim on these micky mouse insurance policies are they going to pay out, or do their best to wriggle out of it, would not touch them, not for me thank you.

  • Paul Barrett

    Anyone wishing to become a tenant simply needs to save up for a deposit.
    Easily achieved by not engaging in snowflake type activities.
    Like having expensive mobile phones and contracts.
    Expensive daily coffees etc
    Socialising expensively.
    Perhaps with the Coronavirus restricting the feckless in spending they might save up for deposits!!?

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    There is no such thing as savers anymore the B of E made sure of that, the base rate used to be always around 5% the + lenders margin ? 3%, so we were paying 8% for Commercial Loans and none of this silly buy to let nonsense from what I remember started with the Woolwich. Then B of E brought down interest rates too low abolishing savers, so they were all scratching around looking for some where to put their money to stop it devaluing, they bought property that they didn't necessarily need or want all bidding against each other, the rest is history. Therefore no incentive to save which is why they can't save for a Deposit. when I was young I always saved maybe a post office Acc' getting about 2.5% it was encouraging when you see it build-up, now all that is gone and will never come back because if Interest rates rise there will be so many going to the wall and the Country collapse. Its totally wrong we should have savers but can't happen with stupid rates like .04%, now we have children running the Country going spending £100b they haven't got.

  • Paul Barrett

    Savers are of very little use for the general economy.
    It is credit that keeps the whole show on the road.
    Without affordable credit the UK economy would collapse.

    Savers contribute very little to economic growth.
    Apart from the fact that few people can afford to save and certainly those on welfare are disincentivised from doing so as it affects welfare payouts it makes no economic sense to wait for people to save up to then use the savings to buy stuff.
    The economy couldn't survive such a wait for levels of savings to increase to be then spent.
    That can take years to achieve this.

    Savers have no right to expect a return on their liquid cash.
    If the banks DON'T want the cash they won't pay credit interest.
    Liquid cash for most part before banks came along was mostly kept as coin by the populace and hidden.

    No interest was credited.


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    Sorry Paul savers were the back bone of the economy, when there was savers the Banks had real money to lend, instead of froth & bubbles, how many billions wiped off the other day. When everyone lives on credit that's what it is & the slightest thing go wrong they are on the street, what happened to the back up for rainy day. I seen many of my friends over the years living on credit & everything on H.P Bills every month, could raise their head above the parapet living hand to mouth they are still the same, no chance to save. Many of the young today buying Property rely on their Parents for backing its a good job their have Savings, we need savers bring back savvy Society.

    Paul Barrett

    Indeed the concept of saving is a very good one.
    Trouble is it means waiting for jam.
    People want jam NOW not when they can afford it.
    That is why banks create money or credit.
    Certainly in those previously gentler times saving made for a more stable economy and less indebted population.
    Consumer debt I think stands at about £1 trillion I think.
    It has created a fantasy economy.
    Freewheeling credit hasn't done society any good at all.
    The only debt worth having is a mortgage which was very carefully and astutely managed by BUILDING SOCIETIES.
    Now they really were reliant on savers' cash to lend.
    No longer.
    There is no way the saver will return.
    It simply ISN'T worth it.

     
  • Matthew Payne

    Savers create liquidity in the world economy. They are in effect lending the banks money, hence they pay interest on it, for the banks to lend other people. Your mortgage is someone elses savings account, thats how the world keeps turning. You may have noticed the wide spread panic at most banks and building societies in 2008 when everyone starting queuing up to withdraw all their savings fearful of a banking collapse. No savers, no banks.

    Paul Barrett

    Really you honestly believe banks lend only savers money.
    What a very quaint and twee concept!
    Complete twaddle of course.
    Bank create money via a computer.
    They DON'T actually have in liquid cash the monies they lend.
    That is how the FIAT economy works.

    Savers contribute very little to an economy.
    It is the creation of credit that drives an economy

     
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