“Isn’t scrapping letting agents’ fees at odds with government goals?” LendInvest responds to Autumn Statement
On the Chancellor’s ban on letting agency fees Ian Thomas, co-founder & CIO of LendInvest, has commented:
“Scrapping letting agency fees is surely at odds with the government’s goal to promoting a healthy rental market. Landlords will be squeezed from yet another angle, while many tenants will eventually foot the bill.
“Letting agents should be expected to account for the fees they charge, not pass the cost of the work they do to landlords.
“The government cannot drive forward its strategy for productivity if it doesn’t create a mixed-tenure property market that’s truly fit for purpose. Until we fix the housing crisis, nurturing a healthy rental market is as important as helping more people to own their own homes.”
About LendInvest
LendInvest is the UK’s leading platform for property finance.
LendInvest offers short-term, development and buy-to-let mortgages to intermediaries, landlords and developers. Its proprietary technology and user experience are designed to make it simpler for both borrowers and investors to access property finance.LendInvest has lent over £3bn of short term, development and buy to let mortgages.
Its funders and investors include global institutions such as HSBC, Citigroup and NAB, and, in 2019, it was the first Fintech to securitise a portfolio of BTL mortgages. The company has reported annual profitable growth since 2015 and was named Digital Innovation Award Winner at the Sunday Times Tech Track 100 Awards, and both Specialist Lender and Buy-to-Let Lender of the Year for 2019 at the last NACFB awards.