Buy-to-let landlords can claim millions

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    Buy-to-let landlords can claim millions

    Buy-to-let landlords can claim millions

    Thousands of buy-to-let landlords could be in line to claim millions back from estate agents as a result of a landmark High Court ruling yesterday against Foxtons. Mr Justice Mann ruled that leasing agreements made by Foxtons, which operates mainly in London, unfairly overcharged commission to landlords. The Judge described Foxtons' agreements as traps and timebombs. Foxtons, which lets some of the most expensive property in Central London, charged customers 11 per cent commission when a tenant continued to occupy the property for longer than the initial term of the lease, and an additional 2.5 per cent commission payment if a tenant agreed to buy the property from the owner.
    Last edited by Editor; 20-07-2009, 11:03 AM.
    I am a Fees Free whole market Mortgage adviser, but I accept no legal responsibility for the information I post, except if you request advice privately and Initial Disclosure Document is issued

    #2
    Don't hold your breath. Surely there will be an appeal and the whole thing will drag on forever? It'll be like Jarndyce v Jarndyce.
    'Pause you who read this, and think for a moment of the long chain of iron or gold, of thorns or flowers, that would never have bound you, but for the formation fo the first link on one memorable day'. Charles Dickens, Great Expectations

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      #3
      BTLMortgages sounds like a spammer to me.
      JEFFREY SHAW, solicitor [and Topic Expert], Nether Edge Law*
      1. Public advice is believed accurate, but I accept no legal responsibility except to direct-paying private clients.
      2. Telephone advice: see http://www.landlordzone.co.uk/forums/showthread.php?t=34638.
      3. For paid advice about conveyancing/leaseholds/L&T, contact me* and become a private client.
      4. *- Contact info: click on my name (blue-highlight link).

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