The DPS Insured Scheme

The Deposit Protection Service

The DPS Insured Scheme

NEW! Insured deposit protection from The DPS

From 1st April 2013, The DPS will be your one-stop shop for tenancy deposit protection, offering a choice of custodial or insurance-based protection. Whether you’re a landlord or an agent, you’ll have peace of mind that your tenant’s deposit will be protected by the largest supplier of deposit protection in the UK.

About The DPS Insured Scheme

Computershare are pleased to announce that they have received approval from the Department of Communities and Local Government (DCLG) to operate an ‘insured’ Tenancy Deposit Protection (TDP) scheme and that, subject to the conclusion of formalities, will be offering an ‘insured’ version of their highly acclaimed and award winning ‘custodial’ scheme, with effect from 1st April 2013.

Full Terms and Conditions of Service will be available at a later date, but as general information, the bullet points are as follows:

  • No Registration or annual renewal fees
  • Available to landlords on a 'pay as you go', per tenancy basis
  • Letting agents will be required to be associated with, members of or accredited by RICS, ARLA, NAEA, NALS, UKALA or The Law Society
  • Subject to volumes, fee payment of monthly accounts in arrears by variable direct debit will be available for letting agents
  • Indemnity will be provided to the tenant for the duration of the tenancy
  • Letting agents will be required to provide formal evidence of Client Money Protection (CMP) annually, other than those with NALS accreditation who have kindly agreed to assist in the 'due diligence' for their members. We will be seeking to negotiate with other bodies in due course and invite approaches accordingly
  • Competitively priced with volume discounts

It should be noted that this scheme will operate, as the legislation demands, for the protection of the tenant(s) and must not be considered in any way as either being complimentary or an alternative to, industry Client Money Protection arrangements.

Pricing Structure

The DPS will offer:

  • Value for money - The industry’s cheapest published option for landlords and letting agents to protect their deposits.
  • Easy - No membership or annual renewal fees, so no membership paperwork to contend with either!
  • Convenient - Letting agents will be charged per deposit monthly by direct debit.

How to Register

Register online. Alternatively, you can call us on 0844 4727 000. If you are already registered with the DPS you do not need to register again - when the DPS Insured Scheme launches in April 2013, you will be able to use the new service via your existing online account.

More Information

Keep an eye on our blog and twitter for more information about this exciting new service. We have also created some FAQs ahead of the publication of the full terms and conditions, which will be made available later in the year. For all other enquiries, please email media@depositprotection.com

Copyright © 2011 Deposit Protection Service, a trading name of Computershare Investor Services Plc. All rights reserved. Computershare Investor Services Plc is authorised and regulated by the Financial Conduct Authority (FCA). Registered address: The DPS, The Pavilions, Bridgwater Road, Bristol, BS99 6AA.