What is the Oldham Bond Scheme?
The Oldham Bond Scheme has been set up by First Choice Homes Oldham in partnership with Oldham M.B.C. The scheme helps people who are homeless or at risk of becoming homeless, to move to good quality, affordable private rented accommodation within the Oldham area. The Scheme is intended to help households who cannot afford the bond. The Scheme is the assurance of a bond, up to a maximum amount of £500, by FCHO to a private landlord or letting agent. The bond is not a transfer of cash, but a written guarantee issued to the landlord or letting agent by FCHO on behalf of the potential tenant. The bond is a guarantee to the landlord or letting agent that in the event of damage or theft from the property, FCHO will reimburse the landlord or letting agent up to the value of the guarantee. The bond is for the first six months of a tenancy. During the six months the tenant will be expected to make arrangements to build up your own cash bond. The Bond Scheme does not involve any exchange of mon
