No surprise. What politicians don’t seem to understand is that Agency is a VERY time-consuming business, irrespective of our understandably low opinion of Agents. If we stop them making money by banning fees, then it will only result in higher rents. The media will complain about increasing rents, and how much tenants are being ripped off. More legislation will result because politicians just don’t understand market forces. This will probably mean rent controls (Labour already stupidly wanting to introduce these), and then Landlords will simply say there’s no profit & more financial risk so will sell up. What then happens to the Private Rented Sector, which the Gvmt relies on to provide housing?

Surprisingly, my mainly political/economic postings on the high profile Property Tribes website have propelled me to #18 in their Top Contributors list, despite the fact that I don’t post too frequently or read all their threads (as I don’t have the time). Presumably my posts have attracted “likes”.

Interesting statistics, but not surprising ones.

Do politicians realise the fact stated here by the NLA that three in 10 landlords with a single property only breakeven or make a loss? Seemingly from their electoral promises it appears not, as there’s easy votes to be won portraying Landlords as villains.

Again, this is a point that I’ve been making to investors for some time. Being a Landlord is not only hard work but the net profit is substantially less than people imagine, and if Landlords took out repayment mortgages instead of interest-only, and costed out their own labour in £’s per hour, how many would then be making a profit?

They are relying on capital growth, which is at the mercy of capricious markets.VERY risky.

This is excellent news and I would hope has the potential to greatly speed up the conveyancing process.
Admittedly the process in Scotland is MUCH better than here in England (and I wish we would replicate it as it would protect sellers from unscrupulous purchasers), but if they can get it working then it could make a positive impact in England.

My concern would be self-interested solicitors de-railing it in order to justify slow processing of documentation and larger fees in order to continue with the current, more labour-intensive process.

Well done to the Law Society of Scotland. I hope they can get it up and running quickly.