Right now it costs an average of £808 to put down a deposit on a new home to rent.
This is a huge amount of money, especially when you probably have a similar sum already locked away in a deposit for the home you are leaving. For lots of us, it means borrowing money from friends or family or worse taking out risky payday loans to cover the costs.
That’s why we are calling for ‘deposit passporting’. It would give renters access to some money from their current deposit to put towards the next one.
Sign our petition calling for deposit passporting.
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We, the undersigned, call on the Housing Secretary to introduce a system of deposit passporting where tenants can transfer a portion of the deposit on their current home to their new home. This would mean needing to find less cash at a time when you’re already stressed out