The government should reveal more details about the letting agent fee ban in tomorrow’s Budget, Fareed Nabir (pictured), chief executive of online letting agent LetBritain, has urged.
The letting fee ban was announced by Chancellor Philip Hammond in November last year but so far there’s been no date for when it comes into effect.
Nabir said: “It’s been positive to see the government reaffirm its proposed plans to ban letting agent fees.
“I hope that the Chancellor uses Wednesday’s speech as an opportunity to not only progress this ban, but also lay down the foundations for tenants to get onto the property ladder.”
He also demanded that Hammond do more to protect the rights of tenants.
He added: “As a result of rising inflation and wage stagnation, homeownership is becoming less of a reality and more of an aspiration for an increasing number of renters in the UK.
“What’s more, so-called Generation Rent does not just apply to millennials; it also extends to young families and even pensioners.
“In light of this, it is vital for the Chancellor to adopt a two-pronged approach to the housing market – improving housing affordability while also protecting the rights of tenants so they aren’t exploited by changing market conditions.”