To qualify for the Deposit Bond Scheme you will need to meet the following criteria:
- Applicant must have an essential need to move. This includes (but is not limited to):
- Your rent is unaffordable
- Your accommodation is significantly too small and you need bigger accommodation
- You are at risk of homelessness
- You are moving for medical reasons (subject to there being medical evidence)
- You are fleeing domestic abuse
- You are leaving temporary accommodation
- There are exceptional circumstances based on a physical or emotional need to move
- You are suffering in accommodation with extreme disrepair issues where either Housing Standards have advised a move or essential repairs required by Housing Standards have not been carried out in a reasonable time scale
- Applicant must not have sufficient savings or capital to fund their own deposit;
(A Bond will only be issued if the household ‘Income’ and ‘Savings’ are both beneath the specified threshold. This is two times the current monthly LHA rate minus essential expenditure as agreed by the us. Total household Savings is the combined savings of ALL household members aged 18+).
- No Bond will be awarded to an applicant where their deliberate behaviour or actions has led to a loss of their accommodation (unless they are engaging with support);
- An applicant must satisfy the local connection criteria or be in receipt of Housing Benefit;
- In exceptional circumstances, we may award a Bond to an applicant for a property in a neighbouring Local Authority area;
- The property must meet the needs of the applicant.