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18-Jan-08
A member of the Bank of England's Monetary Policy Committee (MPC) has hinted that he supports a cut to the base rate of interest sooner rather than later.Deputy governor of the Bank and MPC member Sir John Gieve hinted at his support for a reduction durin...
Market is stronger than it was in the 90s
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We are not about to see a property price crash on the scale seen in the 1990s, according to one expert.CB Richard Ellis believes that prices will actually rise by around three per cent in 2008, reports the Telegraph.The firm is confident that prices will ...
Jobs stats won't postpone rate cut
18-Jan-08
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Landlords receive tax returns reminder
17-Jan-08
People who own investment properties in London and elsewhere in the UK need to get their self-assessment tax returns in before the January 31st deadline.HM Revenue & Customs (HMRC) has warned landlords and other self-employed people not to miss the da...
London airport expansion will boost house prices
17-Jan-08
The value of properties close to London City Airport may increase as the hub expands.In the last 12 months, passenger numbers at the airport have increased by 23 per cent.However, although many people may see this as a negative thing for local homeowners,...
Brits overspend on home improvements
17-Jan-08
A quarter of Britons who carry out home improvement work underestimate how much the projects will cost.That is according to Halifax, which reveals that around one million people undervalue the expenses involved by approximately £4,500.It means that B...
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Print this articleTenancy renewal fees slammed
10-Jan-08
Tenancy renewal fees should be abolished in some cases because they are "unfair".
That is according to the National Landlords Association (NLA), which said that landlords who have managed the property themselves throughout the agreement should not have to pay the fee.
In some cases, buy-to-let investors are forced to pay up to 11 per cent of the annual rent to a letting agent and in some cases this is simply unaffordable.
"It is totally unacceptable where a letting agent is purely renewing the contract for the next 12 months for the same tenants, that the landlord should pay a ten or 11 per cent commission," said John Socha, vice chairman of the NLA.
"All landlords expect to pay a commission at the beginning of a tenancy, but with rents in London and the south-east topping the tables, another fee of this size is simply unfair.
"There is no good reason for a significant renewal fee that doesn't reflect the work undertaken by the letting agents in London and the surrounding towns and cities," he added.
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