Zero Deposit Guarantee
The UK’s only FCA Regulated Deposit Replacement Guarantee.
Exclusive partnership with the TDS.
Partnership with Munich Re, guaranteeing the payment of awarded disputes and giving the same security as a cash deposit.
Zero Deposit is the UK’s only FCA Authorised Deposit Replacement Guarantee
✔ We always aim for a fair outcome for our customers
✔ Customers are protected by the Financial Services Compensation Scheme
✔ Unhappy customers can complain to the Financial Ombudsman Service
What’s in it for me?
Which do you value most?
- Renting properties faster
- Reduced void periods
- Faster dispute resolution
The product: how does it work?
A Zero Deposit Guarantee lasts for up to ten years and is subject to an annual admin charge of £26
A fee of £40 applies if a new tenant joins the tenancy agreement
Tenants do not receive their money back at the end of the tenancy and it doesn’t contribute towards any tenant liability in the event of a claim by the landlord.
✔ Available on residential properties under an Assured Shorthold Tenancy
✔ Tenants need to have been referenced
✔ If a tenant fails referencing but they either have a UK based guarantor or the landlord is still willing to accept them with monthly rental payments then they can be introduced to Zero Deposit
✔ Tenants paying rent in advance or shortfall payments, in order to pass referencing, cannot be introduced to Zero Deposit
End of Tenancy
At the end of tenancy you will let Zero Deposit know if there is:
- No financial loss/ damages – No further action required
- Financial loss/ damages – Tenant has settled with landlord and no further action required
- Financial loss/ damages – As amount has been agreed but the tenant(s) are unable to pay
- Financial loss/ damages – There is a dispute that requires third party resolution
- TDS will collect evidence from both parties
- Undertake their expert evaluation
- Provide a binding decision to Zero Deposit
Where we have made a payment to the Landlord we will recover the costs from the tenant along with any debt recovery costs. Non-payment may impact on the tenants history
How it works for tenants
Tenants remain fully accountable for any financial loss or damage as outlined in their AST
They do not receive their fee back at the end of the tenancy and it doesn’t contribute towards any claims made by the Landlord
Benefits to landlords
✔ Reach and attract a wider audience – 26% CTR
✔ Stand out against other similar properties
✔ Regulated by the FCA and underwritten by Great Lakes Insurance SE, part of Munich Re
✔ Guarantee provide landlords with all the security and protection that they receive today
✔ Lasts for 10 years – no renewal or mandatory inspections
✔ TDS handle adjudication to ensure fair outcomes