Deposit Protection Scheme and interest

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    Deposit Protection Scheme and interest

    I've just authorised my first repayment from the DPS to a tenant, as it's been my first 'departure' since the scheme started.

    The process went fine; no complaints there; but I noticed that the statement I was sent made no mention at all of any interest paid on the deposit... I was under the impression that LL and/or T was supposed to receive this? Can't find any mention of it on the DPS site.

    It's not as if a large sum is at stake - we're talking £650 for about 8 months, so it's probably about 3p - however it's the principle, innit? Multiply that by however many thousands of deposits a year they are holding...

    #2
    If it was payable, at 2.32 % below base you would owe them.
    Dial 999 For a Landlord

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      #3
      They state on their website that they use the interest to fund the service they provide.

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