Reposit has signed up north-east England agency network Pattinson to its deposit replacement scheme.

The insurance alternative to a tenancy deposit will be offered across Pattinson’s 26 branches.

Jonathan Parker, head of residential lettings for Pattinson, said: “As a company it is important that we are at the forefront of change and embrace new solutions to existing issues.

“The eight weeks of cover for our landlords was a key consideration, especially with traditional monetary deposits being capped at five weeks’ worth of rent.

“Reducing move-in costs will naturally be an attractive option for tenants when it comes to selecting a property.

“With Financial Conduct Authority regulation and Financial Compensation Scheme protection at the heart of Reposit’s product and a similar mindset to client care, our clients have the assurances they need.”

Reposit is already offered alongside traditional deposits in the north-east by Martin & Co Newcastle and Northwood Newcastle

Jude Greer, chief executive of Reposit, said: “It is great to partner with another major residential lettings agency.

“Pattinson has an amazing agency network across the north-east.

“We have been impressed with the attention to detail driven approach of Pattinson when it came to selecting us as a partner. We look forward to working with them for many years to come.”