Autumn Statement 2016: What this means for Residential Property

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Our experts share their views on the 2016 Autumn Statement announced today.

Pervaze Ahmed, a residential property specialist at national law firm Blake Morgan, said: “The banning of agency fees is a positive move for tenants and will help strengthen the rental market.

“There has always been a question mark over why agencies should take a fee from the tenant, particularly in light of the fact that they act for the landlord and are already obtaining commission from the letting.

“It confirms that going forward rental, as opposed to home-ownership, will become the norm - especially in places like London.

“This change gives further protection to tenants, the same as Tenants Deposit Schemes when they were first introduced.”