The Lord Mayor's Deposit Guarantee Scheme aims to help local people who are single or a couple and who are in housing need, afford to move into private rented accommodation to thereby reducing the risk of homelessness.
We can issue a Deposit Guarantee Bond or cash loans of up to five weeks' rent to a landlord as a guarantee to cover rent arrears or damage caused by the tenants of the property. You may be eligible for this if you do not have the means to raise a sum of money for the deposit in addition to your rent.
You may be liable for any costs not covered by the bond, or liable to us for any claims made against the deposit bond or cash deposit.
Additionally, we may be able to offer you a repayable loan for the first month's rent, subject to resources, criteria, and property compliance. This loan can be up to the maximum local housing allowance rate you are eligible for in the area where you are seeking accommodation, or up to an amount that is deemed suitable for you based on an affordability assessment.
Who can apply for the scheme
Anyone who:
- is aged 18 or over
- is owed a Statutory Homeless Duty or assessed as being in housing need by Oxford City Council's Homelessness Prevention Team
- does not have savings or access to other financial assistance and is unable to raise a deposit independently
- demonstrates a local connection with Oxford as defined by the Homelessness Reduction Act 2017, Part 7 of the Housing Act 1996, and the Homelessness Code of Guidance
- is able to demonstrate to the Procurement and Placement Team that they can successfully sustain a tenancy in the private rented sector
