CCR Magazine

CSA Top Banner
You are here  :Home arrow News arrow Bob Young, Fleet Mortgages, comments on anticipated ban on letting agent fees for tenants
Contact Us Newsletter Signup RSS Feeds

Latest News Headlines

Headlines

 
Commercial Credit News

Headlines

 
Bob Young, Fleet Mortgages, comments on anticipated ban on letting agent fees for tenants PDF Print E-mail
Wednesday, 23 November 2016
Below are some comments from Bob Young, Chief Executive Officer of buy-to-let lender, Fleet Mortgages, on today’s anticipated announcement in the Autumn Statement banning letting agent fees for tenants: 

“The problem we have here is that some letting agents are indulging in poor practices which have highlighted this as an issue. Listening to the debate, and from my own experiences, there seems to be a wide range of charges for tenants so some standardisation would be useful. It seems that some letting agencies charge what they can get away with which must put off some people from renting and that can't be good. Letting agents can also be conflicted as they charge both the landlord and the tenant; not many firms have this as a business model.

“Given the likelihood these charges will now have to be paid by the landlord, they will be able to offset letting charges against tax. I’m not completely convinced these measures will result in an increase in rents as typically landlords charge what the market will take and that may not allow an increase.

“Overall the private rental sector has good landlords, good tenants and good letting agents. Unfortunately it also has poor landlords, poor tenants and poor letting agents and these latter elements need to be dealt with.”
 
Enghouse Side Banner

CSA side

 Forums International Ltd

Forums International Ltd

 Attendance at your first meeting is free of charge, and please quote reference 'CCR2016' to receive the special 10% discount off of your first annual subscription.

Find out more here.

latest issue

CCR Cover

The latest edition of CCR Magazine, the leading editorial publication in the UK credit industry, is out.

Read the latest issue online

CSA

subscriptions

CCR is the premier magazine for consumer and credit professionals. It provides an independent voice to the industry, breaking major news stories and running in-depth features.

As a magazine, it works with and campaigns on behalf of the credit industry to promote its importance as a centre of potential profit and business development to the wider business world.

Subscribe to CCR Magazine

CCR World Magazine


 

Providing information and analysis for thousands of senior credit professionals worldwide, every quarter.

Find out more

GTS Media Ltd
81 Cambridge Road
Southend-on-Sea
Essex
SS1 1EP

Registered in England No: 05483197