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. Landlords and tenants who have been defrauded by a rogue letting agent say a government-approved scheme set up to protect them is useless. ... [Read full article on BBC ]
Monday 6th of March 2017 12:19:27 AM
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Latest Finance News related to Letting Agent

Scheme to combat rogue lettings agents under attack image
Source : BBC [Read Article] Monday 6th of March 2017 12:19:27 AM
. Landlords and tenants who have been defrauded by a rogue letting agent say a government-approved scheme set up to protect them is useless. ...
E.ON solves mystery of who supplies my energy – with a shock bill for £4,871 image
....Two years ago, I moved into a rented flat in Glasgow. I was told by the letting agent that Scottish Power supplied my energy. ...
UK rents expected to rise faster than house prices in next five years image
Source : Guardian [Read Article] Thursday 9th of February 2017 12:01:07 AM
....“At the same time, we need to stop punitive measures against our bedrock small landlords. The detail on the ban on letting agent fees is yet to come, and along with any overt forcing of longer tenancies, [it] could dampen investment in buy to let overall. ...
England's housing market is 'broken', government admits in white paper image
Source : Guardian [Read Article] Tuesday 7th of February 2017 01:32:18 PM
.... But some felt at the time that there was a worrying lack of detail. The white paper states: “We will consult early this year, ahead of bringing forward legislation as soon as parliamentary time allows, to ban letting agent fees to tenants. ...
If we’re going to tackle the evils of renting, at least do it properly | Penny Anderson image
.... Tenants remained and paid off their debt. So, let it be presumed that tenants can stay for ever, and not at the mercy of letting agents who benefit financially from costs incurred in the churn of constant moving. ...
PM to reaffirm green belt pledge despite plans to ramp up housebuilding image
Source : Guardian [Read Article] Sunday 5th of February 2017 12:34:41 PM
....Ministers are preparing to unveil plans that will shift focus towards the needs of people who rent, with new planning rules that mean developers do not just have to provide a proportion of “affordable homes” but that enough of them are available for rent. The government will also announce incentives to encourage landlords to offer guaranteed three-year tenancies, action to ban unscrupulous landlords who offer substandard properties, and provide further information on a policy to ban fees charged by letting agents. ...
Theresa May to offer more security for renters image
Source : Guardian [Read Article] Saturday 4th of February 2017 11:44:42 PM
.... Ministers will say they want to change planning and other rules to ensure developers provide a proportion of new homes for “affordable rent” instead of just insisting that they provide a quota of “affordable homes for sale”. They will also announce incentives to encourage landlords to offer “family-friendly” guaranteed three-year tenancies, new action to ban unscrupulous landlords who offer sub-standard properties, and a further consultation on banning many of the fees that are charged by letting agents. ...
UK faces return to inequality of Thatcher years, says report image
Source : Guardian [Read Article] Tuesday 31st of January 2017 11:26:31 PM
....“Millions of people are taking home more of what they earn thanks to the government’s actions to reduce income tax bills and introduce the national living wage. We are helping households with the cost of living by increasing the supply of affordable housing, banning letting agents’ fees, and freezing fuel duty, and our investment to boost productivity will raise living standards in the long run. ...
UK rental property demand falls to two-year low image
Source : Guardian [Read Article] Friday 27th of January 2017 03:41:12 PM
....In the autumn statement the chancellor, Philip Hammond, stunned the property industry by announcing a ban on letting agency fees charged to tenants, to be brought in “as soon as possible”. But the consultation is ongoing, and letting agents are free to continue charging tenants until, or if, an outright ban is made formal. ...
Housing benefit claimants increasingly shut out of private rental market image
Source : Guardian [Read Article] Saturday 21st of January 2017 07:00:28 AM
....”. Between December 2015 and February 2016, members of Digs, a Hackney-based private renter information and campaign group, carried out a mystery shopper survey of 50 local estate agents to see how many letting agents had properties that would accept tenants claiming housing benefit. ...
UK inequality narrows but many working people are worse off image
Source : Guardian [Read Article] Tuesday 10th of January 2017 04:16:03 PM
....The chancellor said a rise in the income tax threshold to £11,000 had saved many families on low incomes as much as £1,000 in tax since 2010. A series of measures, including further freezes to fuel duty, another rise in the personal allowance, banning fees charged by letting agents and increasing the “national living wage”, would hand full-time workers another £500 each this year. ...
Hard-pressed private tenants need a union to stand up for their rights | Penny Anderson image
....Being a tenant is lonely. Where do they turn when landlords or letting agents bully them into paying more, unlawfully evict them, or refuse to carry out repairs? For once the news is good: the Bristol-based tenants rights group Acorn is looking to raise money to pay for staff in order to become a genuine nationwide tenants union, with all its concomitant admin costs. ...
Unfair letting fees ban? Truth is the agents just got too greedy image
Source : Guardian [Read Article] Saturday 26th of November 2016 07:00:25 AM
....The real shock about this week’s decision to ban letting fees to tenants is that it did not happen earlier. For more than a decade in Money we have highlighted the exploitative activity of some (but by no means all) letting agents. ...
Will banning letting agency fees lead to higher rents? We ask the experts image
Source : Guardian [Read Article] Saturday 26th of November 2016 06:59:25 AM
....However, the biggest area of debate was whether the ban will drive up rents, on the grounds that landlords will now have to pay these costs and will simply pass them on to tenants. Or will landlords or letting agents absorb the costs?. ...
Hammond's £400m for venture capital funds is no joke – unfortunately image
Source : Guardian [Read Article] Thursday 24th of November 2016 08:28:46 PM
Countrywide shares plummet as transactions fall image
Source : BBC [Read Article] Thursday 24th of November 2016 09:49:08 AM
....Shares in the UK's biggest estate agent, Countrywide, have plummeted following the publication of its gloomy report on the property market. Thursday's 12% fall comes on top of a 5% drop following the news that letting agents fees are to be scrapped. ...
Countrywide warns over profits amid housing slowdown image
Source : Guardian [Read Article] Thursday 24th of November 2016 08:56:50 AM
....Announcing the ban on letting fees on Wednesday the chancellor said the charges on tenants were unfair. “Landlords appoint letting agents and landlords should meet their fees. ...
Housing gets £4bn boost to increase number of new homes image
Source : Guardian [Read Article] Thursday 24th of November 2016 07:00:27 AM
....”. Groups representing aspiring first-time buyers welcomed the ban on letting agents fees which had been trailed ahead of Wednesday’s statement, and the additional funds for new homes. ...
Brexit will blow £59bn hole in public finances, admits Hammond image
Source : Guardian [Read Article] Wednesday 23rd of November 2016 08:39:09 PM
.... A Treasury spokesman, lifting a phrase more commonly used by Labour, said “he is borrowing to invest”. Labour pointed out that other policies, including a ban on letting agents’ fees, were taken from its 2015 manifesto, as Theresa May’s government deliberately takes a more interventionist approach to what it regards as failing markets. ...
Don't mistake autumn statement for infrastructure splurge | Nils Pratley image
Source : Guardian [Read Article] Wednesday 23rd of November 2016 07:15:03 PM
.... Those dull but easy-to-do road and rail upgrades will do more to meet Hammond’s productivity ambitions than the new high-speed railway. Estate agents’ share prices tell the story: they will be hurt by the ban on letting agents’ fees charged to tenants. ...
How will the autumn statement affect you? image
Source : Guardian [Read Article] Wednesday 23rd of November 2016 02:59:50 PM
....” Which sounds like it might be scrapped after that. There were no changes that would make a difference to the costs associated with buying a property, but those living in rented property while they wait to buy will benefit from a ban on letting agents’ fees if it is introduced as planned. ...
Estate agency shares slide ahead of letting fees clampdown image
Source : Guardian [Read Article] Wednesday 23rd of November 2016 11:39:02 AM
. Shares in some of Britain’s biggest estate agencies fell sharply on Wednesday as the chancellor used his first autumn statement to ban upfront fees charged by letting agents. ...
Letting agent fees banned in Autumn Statement in ANOTHER assault on UK's small landlords image
....Most agents don't make a profit on tenant fees, meaning the cost will be passed to landlords and back to tenants, according to David Cox, managing director of the Association of Residential Letting Agents (ARLA). He said: "A ban on letting agent fees is a draconian measure, and will have a profoundly negative impact on the rental market. ...
Autumn Statement 2016: Everything you need to know and what it means for your money  image
Source : Daily Express [Read Article] Wednesday 23rd of November 2016 09:41:00 AM
....*Fuel duty will also be frozen for the seventh consecutive year, Mr Hammond confirmed. *It had already been announced that tenant letting agent fees will be axed as soon as possible. ...
FTSE 100 higher but estate agents hit image
Source : BBC [Read Article] Wednesday 23rd of November 2016 08:49:50 AM
....37, with United Utilities among the top risers, up 3%, after it posted a small increase in half-year profits. But in the FTSE 250, news of the ban on letting agents' fees hit shares in Countrywide, which dropped 3. ...
The Guardian view on Philip Hammond: he will take far more than he gives | Editorial image
.... Second, some of these policies come with glaring loopholes. Take the ban on letting agents’ fees: this will be popular with the 4. ...
Autumn Statement 2016: Lettings agent fees will be banned image
Source : BBC [Read Article] Wednesday 23rd of November 2016 12:15:44 AM
....The industry has argued that administration has a cost and has argued for stronger consumer protection through regulation of the sector, rather than a ban. David Cox, managing director of the Association of Residential Letting Agents (Arla), said: "A ban on letting agent fees is a draconian measure, and will have a profoundly negative impact on the rental market. ...
Will rents go up if unfair letting fees are banned? image
Source : Guardian [Read Article] Wednesday 23rd of November 2016 12:01:49 AM
. When Rory Gray moved into a one-bed flat in Exeter last year, it wasn’t the £650 a month rent that really irked him – but the £800 in fees demanded by the letting agent, part of Britain’s biggest agency, Countrywide. ...
Chancellor picks goodies selectively from his autumn statement bag image
Source : Guardian [Read Article] Wednesday 23rd of November 2016 12:01:49 AM
.... Even George Osborne never issued a formal pre-announcement of the goodies in his bag. The new chancellor’s approach takes the Treasury’s news management operation to new heights (or depths, depending on your point of view) but Hammond has at least created a talking point by slapping a ban on the upfront fees letting agents charge their tenants. ...
Autumn statement: Hammond to crack down on letting fees image
Source : Guardian [Read Article] Tuesday 22nd of November 2016 10:15:47 PM
....The Conservative party press office put out a statement saying that Ed Miliband’s policy would “lead to higher rents” while the same message was delivered by the local government minister, Marcus Jones, who is still in position. He told MPs in the House of Commons: “Banning or capping letting agent fees would not make renting any cheaper for tenants – tenants would still end up paying but through higher rents. ...
Housing squeeze image
Source : BBC [Read Article] Thursday 17th of November 2016 12:17:40 AM
....According to a survey conducted by ComRes for the BBC's Victoria Derbyshire programme, 76% of people want the government to regulate parts of the private rental sector. The survey of 1,002 people asked whether they would support government regulation on such issues as letting agents fees, contract lengths, deposits and inventory checks. ...
Rising supply of unlet properties curbing rent hikes, say letting agents image
Source : Guardian [Read Article] Monday 24th of October 2016 12:02:54 PM
. A surge in the supply of rental properties on the books of letting agents is forcing landlords to peg back rent rises, according to an industry body. ...
Charity calls for end to letting fees for tenants image
Source : BBC [Read Article] Sunday 18th of September 2016 11:41:47 PM
....The charity said there should be a single charge set by the agency for all its services, but paid solely by landlords who were in a better position to shop around and pick the best agency. "Private renters shop around for properties, not for letting agents. ...
When Airbnb rentals turn into nuisance neighbours image
Source : Guardian [Read Article] Saturday 17th of September 2016 06:00:41 AM
....I’ve had men wrestling on the floor outside my flat, someone trying to kick in my door, and fights that have left blood smears across the corridor walls. I’d refrained from complaining to the building manager or letting agents and tried to deal with the host directly. ...
Will internet firms open the door to lower letting agent fees? image
Source : Guardian [Read Article] Friday 16th of September 2016 09:54:06 AM
....Landlords hand over as much as a fifth of their rent to letting agencies to look after a property, while tenants have to fork out a further £300 each. So should landlords be ditching the pricey high-street letting agents in favour of a raft of new online alternatives that promise to slash such costs and even axe fees to tenants altogether?. ...
MPs decry 'failed' effort to stop UK property money laundering image
Source : Guardian [Read Article] Thursday 14th of July 2016 11:01:24 PM
....The MPs said it remained “far too easy for someone intent on laundering money to buy a property with their ill-gotten gains, and rent it out in a very buoyant and robust letting market and take in clean money in perpetuity”. The committee said letting agents must start undertaking appropriate due diligence on clients and making reports to the NCA’s suspicious activity reporting regime. ...
It’s time to end the great letting agency rip-off in England and Wales image
.... The profit margin on lettings at the company is a juicy 30%. Other letting agents enjoy similarly wide margins: LSL Property Services, the UK’s biggest independent chain, with brands such as Your Move and Marsh & Parsons, saw its lettings revenue grow 12% in both 2014 and 2015, much faster than other parts of the business. ...
Give us our fees back Foxtons, says the man lining up an £80m lawsuit image
Source : Guardian [Read Article] Saturday 25th of June 2016 05:59:06 AM
....But if the claim is successful, Green says it will not just be tenants of Foxtons that will benefit, but millions more people as all letting agency fees charged to tenants could be challenged. In total, he estimates that tenants in England and Wales pay moe than £300m a year in fees to letting agents and could potentially claw back £2bn paid over the previous six years. ...
Cost of renting one-bed property soars in UK image
Source : Guardian [Read Article] Sunday 12th of June 2016 11:01:35 PM
.... Since 2007, before the onset of the financial crisis, the proportion of one-person households in the private rented sector has decreased by 3%, while four- and five-person households have risen. The figures, which are based on properties let through Countrywide’s letting agents and income figures from the Office for National Statistics (ONS), adjusted for tax, show that the lowest rents as a proportion of income are found in the east Midlands, where tenants are spending a third of their take-home pay. ...
A rental market that’s more hellish than London image
Source : Guardian [Read Article] Saturday 21st of May 2016 06:00:05 AM
.... I was excited; who wouldn’t grab the opportunity to work in one of the world’s most exciting cities? What’s more, for a short period my company even paid for an apartment for myself and a colleague while we explored different neighbourhoods and found our own place to stay. When the time came to navigate my way through New York’s real estate market, however, I was shocked to be confronted with prices and practices even London’s letting agents would shy away from. ...
Here’s how to fix the housing crisis, Sadiq Khan | Danny Dorling image
Source : Guardian [Read Article] Tuesday 10th of May 2016 11:32:55 AM
.... We suggested that he should champion mandatory registration of landlords – as already happens in some London boroughs – and undertake a review of the enforcement of quality standards in the private rental sector, in order to identify how enforcement can be strengthened and made more effective. And he should reduce or control the average cost of letting agents’ fees and charges, as has been done already in Scotland. ...
Here’s how to fix the housing crisis, Sadiq Khan | Danny Dorling image
Source : Guardian [Read Article] Tuesday 10th of May 2016 11:32:55 AM
.... We suggested that he should champion mandatory registration of landlords – as already happens in some London boroughs – and undertake a review of the enforcement of quality standards in the private rental sector, in order to identify how enforcement can be strengthened and made more effective. And he should reduce or control the average cost of letting agents’ fees and charges, as has been done already in Scotland. ...
George Osborne’s tax assault: The screw keeps on turning for buy-to-let image
Source : Daily Express [Read Article] Wednesday 4th of May 2016 10:30:00 AM
....He is also set to phase out higher-rate tax relief on mortgage interest repayments, starting from next April. Research from online letting agents PropertyLetByUs. ...
Would a rent cap work for tenants facing £1,000-a-month rises? image
Source : Guardian [Read Article] Monday 2nd of May 2016 06:00:16 AM
.... “The candidates for mayor describe London as the greatest city on earth, but as long as growing numbers are paying huge sums to live in squalor they’ll have a lot of work to do to make that a reality. The hashtag #ventyourrent is unearthing the scale of common problems like damp and mice, all the way up to the most shocking experiences like poisoning, ceilings falling in and bullying landlords and letting agents,” said policy manager Dan Wilson Craw. ...
The startup that wants to replace letting agents image
Source : Guardian [Read Article] Wednesday 13th of April 2016 10:00:05 AM
....“They’ve either moved in with a partner, so their flat is being rented out or they’ve inherited a property. All the valuable information about what properties are rented out for, what condition they are in and how long they remain empty is sat on by letting agents. ...
Which London mayor candidate will fix the capital's housing crisis? image
Source : Guardian [Read Article] Tuesday 29th of March 2016 01:05:48 PM
....” Although he again eschews specific targets, he says he’d “guarantee that a significant proportion of new homes are for rent” including on public sector land and would support the building of more bespoke rental homes (including at discounted rates) both through the London Plan and by pooling borough land and funding. Pidgeon would like all London landlords registered, more support for councils to enforce standards and tighter controls on letting agent fees. ...
If lettings agents are disclosing fees, I can’t see them image
Source : Guardian [Read Article] Saturday 26th of March 2016 07:01:21 AM
. Nearly a year ago a new “crackdown” on hidden charges by letting agents in England and Wales came into force. ...
Airbnb: from homesharing cool to commercial giant image
Source : Guardian [Read Article] Friday 18th of March 2016 10:53:17 AM
.... Property managers also guarantee higher returns, using algorithms and price optimisation software to help hosts earn up to 200% more on a property’s usual rent yield. Some of these, such as City Relay in west London, even have a letting agent-style shopfront, complete with luggage rack and maps of the city, where guests can collect their keys. ...
London council launches letting agency for private renters image
Source : Guardian [Read Article] Thursday 10th of March 2016 07:05:10 AM
....A London council has launched a letting agency for private renters, in a move it said would protect tenants from “the scourge of rip-off fees and charges”. Haringey council in north London said its online agency, Move 51⁰ North, was the first in the UK to offer private tenants an alternative to mainstream letting agents. ...
Is it a multiple tenancy if I rent my house to three people under one contract? image
.... So yes, having a single contract for the whole property shouldn’t count as multiple occupancy in your lender’s eyes. As to whether it is realistic to expect to fund the whole mortgage from rental income, you need at ask a letting agent in your area. ...
Buy-to-let: How to set up as a company to save tax, and when it's worth it image
Source : Telegraph [Read Article] Tuesday 16th of February 2016 08:03:49 AM
.... This depends on the amount of work the landlord does on the property, including day-to-day maintenance and direct management of tenants. If they have another job or employ a letting agent to do the work, it’s likely to be categorised as an investment as opposed to a business. ...
UK first-time buyers 'spend more than £50,000 on rent' image
Source : Guardian [Read Article] Friday 12th of February 2016 11:43:25 AM
. People who buy their first home in England in 2016 will have spent more than £50,000 on rent since moving out of their family home, a report by letting agents has found. ...
'I've doubled my yield through letting ex-council houses' image
Source : Telegraph [Read Article] Sunday 31st of January 2016 06:33:10 AM
.... Buy-to-let landlords in Dartmouth, Devon, face high house prices and some of the lowest yields in the country. Local letting agent Tom Freeborn says he advises potential landlords to look seriously at local authority properties if they want to make a decent yield. ...
Buy-to-let warning: Immigration checks apply from February 1 image
Source : Telegraph [Read Article] Thursday 28th of January 2016 09:53:18 AM
.... If you don't want to do this yourself, specialist lawyers are offering immigration checking services, which they will charge for. You can also ask your letting agent to take on responsibility for you, and this needs to be agreed in writing. ...
£10 to have a friend to stay? The hidden costs facing generation rent image
Source : Guardian [Read Article] Saturday 23rd of January 2016 04:59:07 PM
.... Even before they get to the point of moving in, the same tenants are being charged more than £100 just to see a list of properties. Traditional letting agents are not allowed to charge tenants for registering or seeing a list of properties if they charge the landlord too, but companies such as EasyLets UK, Spacelet and Flatland are “relocation” or “appointment-making agents”. ...
Average rents in England and Wales 'rose 3.4%' in 2015 image
Source : Guardian [Read Article] Friday 22nd of January 2016 06:30:04 AM
....Demand for rented property has been booming as priced out first-time buyers have remained in the sector, while estate agents in London’s most expensive neighbourhoods have reported an increase in the number of wealthy people opting to rent rather than buy in the wake of stamp duty rises. A clutch of reports by letting agents and insurers have shown that the growth in the cost of new tenancies outstripped wage rises in 2015, and that pressure on household budgets has been increasing. ...
Brighton and Bristol tenants hit by 18% rent rises in 2015 image
Source : Guardian [Read Article] Tuesday 12th of January 2016 12:21:09 AM
....”. Two growing universities drive demand in the city, said letting agents. ...
House prices 'to rise 50% in 10 years' image
Source : BBC [Read Article] Thursday 17th of December 2015 12:04:10 AM
....That would take average weekly rents in the capital, from £234 now, to £314 by 2025. The figures have been compiled for the estate and letting agents by the economics consultancy the Centre for Economics and Business Research (CEBR). ...
The rogue landlords exploiting the deepening UK housing crisis image
Source : Guardian [Read Article] Friday 13th of November 2015 02:40:01 PM
.... In the past two years, more than 3,000 landlords have faced enforcement action and even prosecution, the government said this week. Related: Rogue landlords and letting agents to get stiffer fines in rental market shakeup. ...
London rents now a record 108pc higher than rest of UK image
Source : Telegraph [Read Article] Tuesday 10th of November 2015 05:00:31 AM
.... . Some 71pc of respondents said they rent through a letting agent, with just 29pc renting directly through a landlord. ...
Government proposes minimum bedroom size for rental properties image
Source : Guardian [Read Article] Friday 6th of November 2015 06:17:37 PM
....Another flat was so small that the only way to get into the wall-mounted bed was to stand on top of the fridge and climb up a ladder. Elsewhere, landlords have divided living spaces into what letting agents have dubbed “semi-studios”, or “mezzanine sleeping areas”, where a large shelf is mounted little more than a metre from the ceiling with space for a mattress. ...
Right to rent scheme to be extended nationwide from February image
Source : Guardian [Read Article] Tuesday 20th of October 2015 12:07:45 PM
....”. A second Asian shopper who went to an independent letting agent reported: “I was told they needed to look at what they had that was suitable for me and they needed to check with the landlords on whether the landlord wanted to do the right to rent check because it cost extra. ...
First-time buyer demand boosts house prices to record highs image
Source : Telegraph [Read Article] Sunday 18th of October 2015 11:01:38 PM
.... . Many letting agents reported a high volume of “same day” rentals, as available properties were quickly snapped up, as there is little or no property available to rent. ...
Tenants 'face 6.3% annual rent rise' image
Source : BBC [Read Article] Friday 16th of October 2015 09:04:33 AM
....The average rent was up 6. 3% in the year to the end of September, to £816 a month, said the owner of letting agents Your Move and Reeds Rains. ...
Average monthly rent hits record high of £816, highlighting housing shortage image
....5% over the past year, according to two reports, highlighting the dramatic extent to which the cost of a place to live has uncoupled from the cost of living. The average rent paid by private tenants in England and Wales reached a record high of £816 per month in September, compared with £768 a year earlier, said letting agents Your Move and Reeds Rains. ...
....So what are the rules?. Energy watchdog Ofgem states that renters who are responsible for paying their energy bills are allowed to switch supplier, and that landlords and letting agents cannot unreasonably prevent them from doing so. ...
Landlords are penalising renters by refusing to allow them to switch energy supplier and save hundreds image
....Landlords also cite a high turnover of tenants and even late rental payments as excuses to stop tenants changing energy provider. But energy watchdog Ofgem states that renters who are responsible for paying their energy bills are allowed to switch supplier and that landlords and letting agents cannot unreasonably prevent them from doing so. ...
Mapped: top class university towns for buy-to-let property image
Source : Telegraph [Read Article] Wednesday 9th of September 2015 06:15:51 AM
.... . “Students are certainly an easy target where the high street letting agent is concerned and it is common practice for agents to strip them of their hefty deposits, for even the most minor of reasons. ...
Student co-ops open their doors to tackle sky-high accommodation costs image
Source : Guardian [Read Article] Monday 7th of September 2015 06:00:11 AM
. The start of the academic year will see five students move into Sheffield’s first student housing co-operative: a property with cheap rent, no letting agent fees and no landlord. ...
Questions of Cash: I've been chased for a phantom debt. What can I do to stop it haunting my credit status? image
....Experian has provided you with a free copy of your credit report: your credit status is undamaged. Is this letting agent banned or not?. ...
Home shortage and lending rules: why Generation Rent is out of luck image
Source : Guardian [Read Article] Wednesday 2nd of September 2015 10:44:32 AM
. Tales from the frontline of Britain’s property market in one week alone: in Exeter, a letting agent demands £800 in fees before renting a mundane one-bed flat – and £360 just to change the name on a photocopied contract; in west London, an estate agency chain charges £1,500 to desperate buyers, as well as demanding thousands from the seller; in Leicester a hard-up couple are forced to pay £250 to a letting agent as a reservation fee before even applying for a property. ...
Nightmare landlords: 'The rent on our decrepit home went up £75, and then we were evicted'  image
.... . Its findings are based on a survey of 3,792 people, in which 60 claimed their landlord or letting agent had been abusive towards them or another tenant in the last year. ...
Buy-to-let home bubble set to burst image
Source : Daily Express [Read Article] Wednesday 26th of August 2015 12:00:00 AM
....”. Meanwhile research from online letting agent Property Let By Us shows that landlords face growing difficulties getting a mortgage as lenders tighten their criteria. ...
Need to find a ‘cheap’ London flat? Beware the  agents asking for upfront fees image
....They are targeting tenants, often from overseas, primarily looking for studio flats and their even smaller sibling “semi-studios” in popular central London locations. Legally, letting agents aren’t allowed to charge tenants to register or to see a list of available properties. ...
Do we need a holiday-let mortgage? image
Source : Guardian [Read Article] Thursday 20th of August 2015 08:36:36 AM
....With a buy-to-let mortgage, the lender uses a valuer to assess the potential rental income of a property. In contrast, for a holiday-let mortgage, the lender looks at actual income achieved (if the property being bought is already used for holiday lettings) or asks for the opinion of a holiday letting agent who has experience of managing holiday properties in the area where you want to buy. ...
The tourists shopping in Harrods for a villa in Dubai image
Source : Guardian [Read Article] Thursday 13th of August 2015 09:16:23 AM
....”. Upmarket letting agent EJ Harris claims that up to £100m will be spent on short-let serviced apartments in London over the next four weeks by wealthy visitors. ...
UK tenants staring down the barrel of £1,000 rents image
Source : Guardian [Read Article] Monday 10th of August 2015 02:06:39 PM
....Recently, it was predicted that by 2025 more than half of those aged under 40 will be living in private rented accommodation, and competition for homes is driving up rents in many parts of the country. HomeLet’s index – which is based on tenancies set up through letting agents around the UK – showed year-on-year rent increases everywhere except the north-west of England, although the size of the rises ranged from just 1. ...

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