A brand new scheme has launched in Lambeth to help people struggling to find a cash deposit to move into a new private sector home. The council’s Home Finder Deposit Guarantee programme provides landlords with a certificate guaranteeing them cover against damage and/or loss of rent, enabling prospective tenants to move into a new property.
Twenty-one year old Kofo Ojikutu from South Lambeth is the first person to benefit from the scheme.
She says: “I didn’t think I’d be able to afford to move into a new home and this scheme has worked out really well for me. Both the council’s housing staff, and the letting agency who found me the new home, have been really good in helping me find somewhere to live, and the landlord was happy to be given the certificate guarantee, which meant I didn’t have to find a big deposit before moving in.
“I think this is a really good scheme and I’ve already recommended it to four of my friends.”
The scheme is open to people who can run their own tenancy and who:
- live or work in Lambeth
- are unable to find a cash deposit
- are single or couples without children
- are in receipt of benefits or on low income.
Councillor Lib Peck, Lambeth Council cabinet member for housing and regeneration said: “This scheme provides a solution for both sides involved in the lettings process. It helps people struggling to find the cash deposit – enabling them to move into a new home, while at the same time reassuring landlords by giving them peace of mind that they are covered if the worst happens and their property is damaged or there is a problem with the rent.
“I would urge anyone who is looking for a new home – but is put off because of the cost – to contact Lambeth’s housing options and advice centre to find out how they can help.”
For more information about the Home finder Deposit Guarantee scheme, contact the housing options and advice centre on 020 7926 4200.