Deposit protection price war imminent?

One of the three tenancy deposit scheme providers has predicted a price war.

Mydeposits.co.uk believes the announcement by The Dispute Service (TDS) of the ‘likely severity of the subscription increases’, will create a divide between the two, saying mydeposits.co.uk would offer more competitive deals for letting agents without compromising on quality.

In its statement TDS said that unless subscriptions rose, ‘the number of disputes will reach a level that is well above the resources available to the scheme’. TDS has also recently announced that every disputed deposit will be adjudicated in-house in a bid to reduce spiralling costs, mydeposits.co.uk claims.

Eddie Hooker, chief executive of mydeposits.co.uk, said: “This latest decision by TDS will hit letting agents hard just when they don’t need it. We also have to question how the decision to bring all adjudications in-house will affect tenants and landlords with the quality of adjudication they receive in dispute cases. With all disputes dealt with in-house

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