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Renters and landlords need to ensure they are using a government-backed tenancy deposit scheme to ensure their money is safe, mydeposits.co.uk has warned.

The government-authorised website, run by Tenancy Deposit Solutions, issued an urgent warning today (June 4th) about a site known as Mytenancydeposit.co.uk, which claims to administer a programme for landlords and letting agents.

Mydeposits.co.uk cautioned that the site is not one of the three schemes supported by the government and reminded landlords, tenants and letting agents that they could face legal penalties if they do not use one of the official programs.

Furthermore, anyone who has placed a deposit with this company or any other non-authorised schemes should seek legal advice as soon as possible, it warned.

The three government-backed insurance-based tenancy deposit programs are The Dispute Service, the Deposit Protection Service and mydeposits.co.uk.

Earlier this year, the website indicated that in nine out of ten tenancy deposit dispute cases, renters are able to get their money back.

04/06/2009 08:23