Buy to let mortgage holders encouraged to join mydeposits scheme

www.moneynews.co.uk > Mortgages > Buy to let mortgage holders encouraged to join mydeposits scheme

Buy to let mortgage holders encouraged to join mydeposits scheme

Tue 25th Jan 2011

People with buy to let mortgages have been encouraged to take advantage of a reduced price on a mydeposits.co.uk scheme that could see them better protected in the event of a dispute.

The organisation is offering landlords lifelong membership for only £10, a £50 saving on the usual fee, until January 31st 2011.

It is the only initiative currently on offer in Britain that gives landlords the chance to hold on to deposits themselves during or at the end of a tenancy and mydeposits.co.uk chief executive Eddie Hooker said this is a benefit most of its clients particularly like.

"If there is a disagreement over how much is to be refunded, our free dispute resolution service is available," he added.

Mr Hooker recommended acting soon to take advantage of the offer.

This comes after mydeposits.co.uk revealed that letting agents had purchased 65 per cent more deposit protection products in 2010 than they did in 2009, while landlords with buy to let mortgages took out 49 per cent of all available products last year.

Click here for more mortgages news

Related News : Mortgages
	Brits 'failing to grasp the importance of an interest in mortgages'
	BBA highlights mortgage lending growth
	Are interest-free mortgages a bad idea?
	Buy-to-let mortgages are 'more profitable'
	House price performance to impact lenders' criteria
	More Brits 'to choose long-term mortgages'
	Offset mortgages 'are the future'
	UK house prices 'set to fall'
	Hybrid mortgages 'are a good deal' for FTBs
	UK public expects house price increase