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Rental deposit
octavious
Posts: 5 Forumite
I rented a property through Your Move 3 yrs ago. After 11 months or so the house got repossessed and we were forced to move out by the agents acting for the receivers. It was all very amicable and they even provided us with the deposit on our new rental property and the agents fees. We were recently contacted by the new owners who had received a letter addressed to us from Your Move. This letter informed us that we were considered to be on a monthly periodic tenancy and that our deposit remains protected with My / Deposits. I immediately contacted Your Move and told them we were no longer tenants, the landlord no longer owned the property, and we would like our deposit returned. They are insisting that they can not release the money without the landlords say so even though he no longer owns the property and can not be contacted. Has anyone got any ideas on what to do next? My / Deposits are about as much use as a chocolate fireguard as they say it is too late for them to help.:mad:
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Comments
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You file a claim at court for the return of the deposit.
Your landlord is the defendant.
Your claim would need to request the court order My Deposits to release the deposit to you.Well life is harsh, hug me don't reject me.0 -
Seems unlikey the LL would contest the claim.You file a claim at court for the return of the deposit.
Your landlord is the defendant.
Your claim would need to request the court order My Deposits to release the deposit to you.
Not sure where you'd claim back the court costs though......0 -
But didnt the owners ( lender) provide you with the deposit on your new place?Don't put your trust into an Experian score - it is not a number any bank will ever use & it is generally a waste of money to purchase it. They are also selling you insurance you dont need.0
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MyDeposits don't physically hold the tenant's money because it's an insurance-based scheme rather than a custodial one. The landlord is holding the deposit and if the property was repo'd it's unlikely that either he can be found or will hand the money back when asked for it.0
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BitterAndTwisted wrote: »MyDeposits don't physically hold the tenant's money because it's an insurance-based scheme rather than a custodial one. The landlord is holding the deposit and if the property was repo'd it's unlikely that either he can be found or will hand the money back when asked for it.
Interesting - I didn't know that rental deposits are an insurance based scheme. I'm sure many people are not aware of this either. However, as regards the OP, as you say, where would they serve Court papers if the LL's address is unknown? Although thinking again and in the light of your advice as to an 'insurance based scheme' I think that MyDeposits should be responsible. I would stay on their backs and then resort to Court action - serving whatever papers that are necessary on MyDeposits.0 -
Not all of them are: just TDS and MyDeposits. It's the DPS which is a custodial scheme where the landlord physically hands over the tenant's money.
Serving papers upon MyDeposits is a nonsenses: they don't have the tenant's money and never have.
Still, it appears that the OP has had someone else provide the deposit for their new property so it's difficult to see what their actual, financial loss may have been.0 -
Greed is allDon't put your trust into an Experian score - it is not a number any bank will ever use & it is generally a waste of money to purchase it. They are also selling you insurance you dont need.0
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As far as I am aware, the deposit is held by Your Move who were the landlord's agents. I am not disputing the fact that the repossession company gave us the deposit for our new rental property, but they only did this as they wanted us out as soon as possible. This does not alter the fact that Your Move have £600 pounds sitting in their bank account that should be released as they no longer have any right to the money.0
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no thats the repoagents money nowDon't put your trust into an Experian score - it is not a number any bank will ever use & it is generally a waste of money to purchase it. They are also selling you insurance you dont need.0
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