Deposit Guarantee Scheme for single people or couples on low incomes
The Lord Mayor's Deposit Guarantee Scheme aims to help local people who are single or a couple and who are in need of housing and on a low income, afford to move into private rented accommodation.
We can issue a Deposit Guarantee Bond to a landlord as a guarantee to cover rent arrears or damage caused by the tenants of the property. This means that if you are on a low income do not have to raise a sum of money for the deposit in addition to your rent.
This bond is not a cash deposit. It is equivalent to a month's rent. You may be liable for any costs not covered by the bond, or liable to us for any claims made against the bond.
In the event of our paying out for a claim of rent arrears, damages or losses by a landlord, we may seek to recover this from you.
In addition we may be able to offer you a repayable loan for the first months’ rent subject to resources and criteria.