Tenants have donated more than £500,000 to homelessness charity St Mungo’s through a service that protects their deposits when they move into a rented property.

The donations have been made through the Deposit Protection Service, which safeguards their money. At the end of their tenancy they can choose to donate the interest made on their deposits to the charity.

“We are incredibly grateful to The DPS for choosing to support St Mungo’s,” said the charity's director of fundraising and communications Laura Herring.

“The donation of an incredible £500,000-plus through this partnership will go a long way to helping those in significant housing need.

“With a record number of people experiencing homelessness, we look forward to continuing to work together to support people without somewhere safe, warm and stable to stay and help them rebuild their lives.”

The DPS said its partnership with St Mungo’s aims to support meaningful change in local communities across the country, particularly in Bristol, where the deposit protector is headquartered.

DPS managing director Matt Trevett added: “We’re delighted to partner with an organisation that works tirelessly to prevent homelessness around the UK.

“The vital work St Mungo’s undertakes, supporting people to recover from homelessness and advocating for change, is why we chose to support them.

“The donation is only possible due to the generosity of tenants that have chosen to support the initiative, and the significant volume of deposits managed and maintained by The DPS.”

The DPS has been protecting deposits since 2007 and each month it helps resolve around a thousand deposit return disputes.

It is one of three schemes approved by the government to protect tenants’ deposits. The others are My Deposits, which protects more than £1.3bn worth of deposits, and Tenancy Deposit Scheme, which has been protecting deposits since 2003.

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