Labour Seeks Law Change To Reduce Maximum Deposit

Labour is seeking to change the law to significantly reduce the amount that landlords are allowed to charge renters as a deposit. The party wants to amend a new law in order to cap the maximum deposit at three weeks’ rent – an average of £575 for renters in England. Under government proposals currently before Parliament, the maximum deposit landlords could charge would be limited to six weeks’ rent – meaning, on average, £1,150. Labour claims the government’s six-week limit would do nothing to help most tenants, because the average deposit is already less than five weeks' rent. Read more on the Independent website.

https://www.independent.co.uk/news/uk/politics/labour-rent-deposit-landlords-maximum-law-change-housing-jeremy-corbyn-a8386221.html