Tenancy deposit protection scheme Mydeposits.co.uk says it has protected over £1 billion worth of deposits on behalf of tenants.

This mistune has been reached on the eve of the fourth anniversary of tenancy deposit protection in England and Wales.

Mydeposits.co.uk now protects an average 30,000 deposits on behalf of landlords every month.

Eddie Hooker, chief executive of mydeposits.co.uk, said: “My|deposits has gone from strength to strength since we launched over four years ago