UK government to cap leasehold fees and license property agents
The government will cap some landlord fees and create the first independent regulator of property agents, with mandatory licensing for over 5 million leaseholders' benefit.
The government has announced plans to cap some fees charged by landlords and, for the first time, license property agents, in a package aimed at strengthening protections for more than five million leaseholders and future homeowners.
Under the proposals, announced on Tuesday, ministers will legislate to give the Secretary of State powers to introduce caps on permission fees — the charges leaseholders can face for simple requests such as keeping a pet or making minor alterations to a property. The caps would also cover administrative fees, including charges for providing documents such as building safety certificates or for notifying a change of mortgage provider.
The measures will apply to leaseholders and to homeowners living on privately managed estates, who can face similar charges. A public consultation will be launched on which fees should be capped and at what level.
Separately, the government intends to create an independent regulator for property agents — the first of its kind. Agents would be required to hold a licence and appropriate qualifications to operate, with the regulator empowered to take licences away from those who fall short of its codes of conduct and complaint-handling standards.
The government said it would bring the changes forward as soon as possible, with further detail to follow.
Sources
More on this topic: all UK Broadband stories
