TDP benefits those with buy to let mortgages

People with buy-to-let mortgages are reaping the rewards of Tenancy Deposit Protection (TDP).

According to the National Landlords Association (NLA), the scheme has helped to improve relations between tenants and landlords.

It has helped to ensure that a resolution is on hand should one be needed and this has helped to put people with buy-to-let mortgages at ease.

TDP was introduced in April 2007 and is designed to raise standards in the private rented sector.

Simon Gordon, NLA spokesman, said that the scheme has been successful since its launch.

"We would say that TDP has been a success. TDP has led to an improvement in landlord-tenant relations as one of the potential bones of contention is open to resolution," he commented.

"We do believe that it has clarified the situation and made things clearer for landlord and tenant," added Mr Gordon.

NLA-sponsored TDP scheme Mydeposits has protected around 200,000 deposits in the firstyear of TDP.

Related Articles

UK Financial Solutions New Mortgage Sourcing System Goes LiveBOE increases quantitative easing and holds the base rateRise in Intermediary Mortgage Products Signals a Stabalising MarketHousing Market Improves SlightlyNationwide launch new variable rate mortgage