PARLIAMENTARY WRITTEN QUESTION
Tenants: Deposits (15 January 2024)

To ask the Secretary of State for Levelling Up, Housing and Communities, what recent (a) discussions he has had and (b) correspondence he has exchanged with the Deposit Protection Service on the decision to pay 0.78% interest on tenants' deposits held on account.

Asked by:
Dame Harriett Baldwin (Conservative)

Mandatory tenancy deposit protection for deposits taken in connection with assured shorthold tenancies is provided by three independent companies authorised to operate under concession contract of the department. These companies protect deposits and provide free dispute resolution services.

The Secretary of State has not had any discussions or had any correspondence with the Deposit Protection Service regarding their recent decision to pay interest on tenants' deposits held on account however the decision to pay interest is welcome.

Answered by:
Jacob Young (Conservative)
22 January 2024