Protecting a deposit in our Insured scheme is easy. Here's what you need to know!
Why choose our Insured scheme?
› Our service is competitively priced and is available on a ‘fee per deposit’ basis
› You don’t have to worry about paying a registration or annual renewal fee
› You’ll retain the deposit and we’ll protect it for the duration of the tenancy
How much does Insured deposit protection cost for landlords?
How do I protect a deposit using your Insured scheme?
Before protecting a deposit using our Insured scheme, you'll need to create an Insured scheme account.
Once you’ve created your account, you’ll need to provide validation documents before you can protect your deposits. The validation process takes around 2-3 working days once we’ve received your documents, and we’ll return any original documents to you once the process is complete
Once your validation documents have been received and accepted, we’ll contact you to confirm your documents have been validated and your Insured account is active.Once we’ve confirmed your account is active, you’ll need to log into your account and add details for the tenancy, tenants, and deposit. We'll create the Deposit ID, and send you confirmation that the deposit is protected once you’ve paid the relevant fee
What do I need to send to validate my account?
We need 2 validation documents from the following list, one from each section.
Document 1. A copy of the Tenancy Agreement for the tenancy the deposit relates to
Document 2. Any ONE of the following items to confirm the Landlord’s* address:
(i) Local authority tax bill relating to the current tax year
(ii) Current UK/EEA photocard driving licence or blue disabled driver’s licence
(iii) Current full UK paper driving licence
(iv) Utility bill no older than three months (not including a mobile phone bill), or a certificate from a supplier of utilities confirming the arrangement to pay for the services on pre-payment terms
(v) Bank or building society statement (original statements only, not printed from the internet) which includes the account holder’s address
(vi) Current home or motor insurance certificate (issued within last 12 months, The landlord must be the named policy holder)
(vii) Mortgage statement (no more than 12 months old)
* Where an Organisation is creating an account, the documents above should be for a current statutory director or equivalent person in the Organisation.
Alternatively, we’ll accept copies of your documents that have been individually certified by one of the following officials:
› Post Office identity checking service
› Officials of an embassy, consulate or high commission of the country of issue
› Police officer
› Solicitor or accountant
› Notary Public
› Representative of a FCA organisation or of a UK or EU regulated bank
› Family GP
› Civil servant
Certification must be no older than six months. The person undertaking the certification can’t be a family member, and they must provide their business contact details.
Where do I send my documents?
Send your original documents to us by post to:
Business Support Team
The Deposit Protection Service
Will you return my validation documents if I post original copies to you?
Yes, original copies of your validation documents will be returned to you via post to the address you used to create your account. We recommend that you send certified copies of your validation documents to us to avoid the risk of your original copies being lost in the post.
Can I send you my validation documents via email?
Yes, you can send copies as long as they are legible, and have been individually certified by one of the officials listed above. Email your documents to email@example.com.
What if the address I have registered with you is different to my personal address?
If you’re trading as an organisation and have a trading address different to your personal address, you’ll need to provide documentation to verify the trading address as well as your personal address.
I need to protect deposits before my Insured account can be validated.
If you urgently need to protect a deposit, our free Custodial scheme doesn’t require validation. Create your Custodial account and begin protecting deposits straight away here.
Can I use your Insured deposit protection if I live overseas?
You must be a resident of Great Britain, Northern Ireland, the Channel Islands or the Isle of Man to use our Insured scheme. If you live outside of these territories you can use our free Custodial scheme.
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