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Hammond's Rental Fees Ban for Tenants Sends Foxtons Plunging | Tony Seruga
Nov
23

Hammond’s Rental Fees Ban for Tenants Sends Foxtons Plunging

By

1476888292_FOXTONSPhotographer: Simon Dawson/Bloomberg

  • Fees have spiraled to hundreds of pounds, Hammond says
  • Foxtons, Countrywide, LSL shares declined in London trading

The U.K. government will ban brokers from charging fees to tenants as it tries to shield lower-paid workers against stagnant wage growth, Chancellor of the Exchequer Philip Hammond said in the Autumn Statement on Wednesday. Shares of real estate agents plunged.

“We have seen these fees spiral despite attempts to regulate them, often to hundreds of pounds,” Hammond said in Parliament. “This is wrong; landlords appoint letting agents and landlords should meet the fees.”…

Hammond’s Rental Fees Ban for Tenants Sends Foxtons Plunging

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