The Queen’s Speech in June proposed to ban tenants’ fees, but another proposal from the Queen’s Speech is likely to hit out at landlords, which could also lead to a rise in rents. This is the decision to cap tenants’ security deposits. Find out more about what this means for both landlords and tenants.
The key to London’s success is its integrated transport network, which enables workers to live in a different part of London from where they work without losing out on quality of life. Transport links are an important element when it comes to choosing and pricing rental property in London, particularly in Hayes and west London which will soon benefit from Crossrail.
The idea of abolishing lettings fees was first introduced by Chancellor Philip Hammond in his Autumn Statement last year. At the time, ARLA (Association of Residential Lettings Agents) hoped to persuade him to cap fees instead of banning them altogether. Sadly, the property sector’s pleas seem to have fallen on deaf ears. All three parties pledged to ban fees for tenants in their recent election manifestos, and June’s Queen’s Speech confirmed that the ban would go ahead.
Why did all the … Read more ›
With the increased demand for property in UB3, UB4 and surrounding areas, Henry Wiltshire identified Hillingdon as the next key borough in which to open a branch.
West London is an area that has really benefitted from recent improvement to transport links, as we covered in our “Growth in the west London property market” article. With Crossrail plans approved, the area is expected to see an almost 30% rise in house prices between 2015 and 2020. The expansion of Heathrow also … Read more ›
In last week’s Autumn Statement, UK Chancellor Philip Hammond proposed to ban letting agents’ fees to tenants. The proposal is still in the early stages, with the consultation proposed for the New Year, and an Act of Parliament required to push the legislation through.
ARLA, the Association of Residential Lettings Agents, headed by MD David Cox, is deeply concerned by the proposed ban and feels that it has been rushed into with little regard for the facts or potential consequences. The … Read more ›
Since the beginning of 2016, estate agents have noticed a reduction in house sales and an increase in rentals. This is because there is an increased desirability for renting, as well as fewer homeowners choosing to sell, although prices continue to rise. The expense of living in London and the problems of job instability are all playing their parts, but changes to stamp duty laws and the uncertainty of Brexit have an equally important role.
The appeal of renting
There’s been a … Read more ›