DEPOSIT REPLACEMENT SERVICE

FED UP OF FRONTING?

Reduce your upfront costs to move into a new home with an alternative to a traditional deposit.

Ask your agent if they offer a Deposit Replacement Service.
If you would like to benefit from a Deposit Replacement Service, please reach out directly to your lettings agent who will be able to start the process for you.

Authorised and regulated by the Financial Conduct Authority.

Deposit Replacement Service from Goodlord

Find out more about what Goodlord offers to tenants.

Let's get moving

Choosing an alternative to a traditional deposit means you could speed up the time it takes to get into your home for a fraction of the cost.

Cashflow

REDUCE YOUR UPFRONT COSTS

A Deposit Replacement Service lets you reduce your upfront costs so that you can move between properties quickly and don’t have to wait for your traditional deposit to be returned to you. You’ll have more cash in your pocket, at the time you need it most.

Fair and impartial resolutions

FAIR AND IMPARTIAL RESOLUTIONS

If you need to dispute any charges at the end of your tenancy, our Deposit Replacement Service is adjudicated by Hamilton Fraser, independent and impartial specialists who also manage the government-authorised tenancy deposit protection scheme, mydeposits.

Check out with confidence

CHECK OUT WITH CONFIDENCE

Avoid extra costs at the end of your tenancy and protect your liability and contents at the same time with our Tenants Contents and Liability Insurance. Our insurance specialists will be happy to find you the best deal.

Please note you are still liable for the obligations within your tenancy agreement when taking out a Deposit Replacement Service, including paying your rent and covering any damages that may be incurred during your tenancy.

Frequently asked questions

A deposit replacement service gives you the option to pay a smaller one-off fee at the beginning of your tenancy instead of the five or six weeks’ rent that is usually required from a traditional deposit scheme.

No. The one-off payment is non-refundable and you are still liable for damages and any unpaid rent that could be outstanding at the end of your tenancy.

No, the deposit replacement service is a service your letting agent will offer that lets you move into the property without forking out the traditional five weeks deposit.

You will need to complete and pass referencing to be eligible for the Deposit Replacement Service. It is also a condition of our service that you take out Tenants Liability insurance to ensure you are protected against any damage to the property or unpaid rent for the duration of your tenancy.

No, you can and should always be offered the choice of using a traditional deposit scheme or a Deposit Replacement Service.