The Ministry of Housing has opened a consultation on 'deposit passporting' which would allow a deposit to be transferred from one landlord to another when moving property.
Under the existing system, many tenants have to raise a deposit twice when moving. One deposit is tied up in the property they are leaving while a second is required to secure the property they wish to move into.
With the proposed system some or all of the tenant's deposit would be transferred from the first to the second landlord without it initially being returned to the tenant, with the tenant making up any shortfall caused by deductions.
For further information please see link below:
https://www.landlordtoday.co.uk/breaking-news/2019/9/allow-tenants-to-transfer-deposit-between-landlords-when-moving-home-says-rla
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