Posted 05.02.15
Housing Minister Brandon Lewis announced government-wide support for a new scheme that could become available to thousands of potential tenants.
All of Whitehall has now agreed to offer deposit loans to staff looking to take up new tenancies in the private rented sector, following in the footsteps of the Department for Communities and Local Government. This includes the Home Office, Ministry of Defence, Department for Work and Pensions, HM Revenue and Customs and the Department of Health.
The scheme, which works in the same way as a staff season ticket loan, will allow employees to borrow some of their salary upfront in order to pay for rental deposits, which is then repayable from salary payments over up to a year. It is available to be taken up in both the public and private sectors.
The Department for Communities and Local Government last October became the first government department to roll the scheme out to its staff, with ministers pushing other parts of government and the public sector to follow suit.
Brandon Lewis said:
"With millions of people across the country renting their home, we are determined to create a bigger, better private rented sector that is fair to tenants.
Today's move will mean thousands of people will be offered a helping hand to rent privately through season ticket style loans from their employers.
I hope to see more employers in the public and private sector joining the scheme in the near future."
