Deposits and deposit alternatives: Introducing choice

Hamilton Fraser has today, 28 November 2019 announced the launch of its own in-house deposit alternative brand, Ome.

Having previously challenged the industry to be wary of some of the pitfalls surrounding the new alternatives, Hamilton Fraser has decided to tackle the issues head-on by launching a transparent product in early 2020. The aim is to deliver choice in the UK lettings market, without compromising the rental wellbeing of either tenants or landlords.

Ome is the Hamilton Fraser Group’s newest brand and will operate independently to enable agility in a constantly changing market. However, it will benefit from the resources and extensive expertise that the Hamilton Fraser Group has gained over the last 23 years.

Of particular relevance to Ome will be the experience that comes from operating tenancy deposit protection provider mydeposits since 2007, and Hamilton Fraser’s own adjudication service, HF Resolution, which already provides services to many of the existing deposit alternatives. As part of the Hamilton Fraser Group, Ome is in a fantastic position to offer the best deposit alternative in the market.

 

Group CEO of Hamilton Fraser, Eddie Hooker, commented:

“Hamilton Fraser is one of the country’s leading specialists in landlord and tenants’ services and products and is well known as an expert in the sector. Therefore the launch of Ome is complemented by the huge resource and credibility that the family group provides.

When you think about it, a deposit alternative product is a very natural expansion for us because we know the space so very well and we’ve been asked by our many landlord and agent clients to provide one. So we have.

Hamilton Fraser’s business ethos is to offer products that protect businesses and consumers, to provide market-leading customer service and to educate the market where we can. With this mission to raise standards in the private rental sector, the next natural step was to challenge the new crop of deposit products and demonstrate ourselves the standards that should be expected within the sector.”

 

Co-founder of Ome, Matthew Hooker, commented:

“Ome is about offering choice and transparency within the market rather than completely rewriting the tenancy deposit rulebook and I think Ome’s Deposit Replacement Membership will be the “go-to” option for many renters and will complement the traditional deposit schemes in today’s rental market.

Hamilton Fraser provides such a wealth of resources at our fingertips and has a rich history of expanding and improving its consumer offering. As a result, we are in a strong position to offer the best deposit replacement product available today in Ome, whilst also driving positive change in the UK rental sector and, like Hamilton Fraser, we will continue to raise industry standards.”

Read the full whitepaper, including what Ome has to offer, here.

Deposits and deposit alternatives: Introducing choice

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