Zero Deposit Partnership
homes4u are the first Independent agent in Greater Manchester to partner with Zero Deposit to offer a new, more affordable way of renting. The scheme launched at the start of the year and is a fully regulated deposit guarantee scheme backed by Zoopla property group.
Paying a traditional cash deposit, often paid before a previous deposit has been returned, on top of a first months rent, moving costs, furniture and set up costs can make renting unaffordable. With Zero Deposit applicants can reduce these by replacing a cash deposit with a Zero Deposit guarantee at a fee of just one week’s rent to cover their deposit of 6 weeks’ rent.
Ben Harris, Sales Director at Zero Deposit says “We are really pleased that having reviewed the options available, homes4u chose to partner with Zero Deposit. Our partnership will further add to their aim of creating a stress-free experience to their customers by removing some of the barriers and pains points created with traditional deposits. “
For landlords, offering Zero Deposit gives the potential to attract a wider audience of tenants, increasing demand and reducing the time taken to rent. Claim disputes are settled by The Dispute Service (TDS) and Zero Deposit will pay landlords within two working days of an agreement.
Carolyn Mellor, owner and Managing Director at homes4u said of the partnership ‘We are always looking out for new and innovative ways to add value to our services. We believe that the scheme will open up new opportunities for tenants currently unable to move due to up front costs, whilst safeguarding Landlords with no hidden risks”.
For more information on what Zero Deposit means for landlords visit Information for Landlords
Established in 1990 homes4u offers residential and investment sales, new developments, lettings, commercial, property management and block management across the Greater Manchester area.
Zero Deposit is a trading name of Global Property Ventures Limited (10328435), which is registered at Business and Technology Centre, Bessemer Drive, Stevenage, SG1 2DX. Global Property Ventures is an insurance intermediary and is authorised and regulated by the Financial Conduct Authority. You can find details of this at register.fca.org.uk, by searching for the company name or reference number, which is 797026.
The Zero Deposit Guarantee is underwritten by Great Lakes Insurance SE. Great Lakes Insurance SE is a German insurance company with its headquarters at Königinstraße 107, 80802 Munich. Registered with the commercial register of the local court of Munich under number: HRB 230378 UK Branch office: Plantation Place, 30 Fenchurch Street, London, EC3M 3AJ. Great Lakes Insurance SE UK Branch is authorised by the Bundesanstalt für Finanzdienstleistungsaufsicht and subject to limited regulation by the Financial Conduct Authority and Prudential Regulation Authority. Details about the extent of our regulation by the Financial Conduct Authority and Prudential Regulation Authority are available from us on request.