Splitting assets in a divorce – How does it work?

Divorce is always going to be a difficult thing to deal with, and there is no definitive guidebook that everyone can turn to when figuring it out. Each divorce, like each marriage, is unique. A couple will spend so much time building a life together, it is only natural that they will also accumulate wealth, property and goods together.

But how is all this divided when the couple breaks up?

Here are some of the main factors that will be taken into account by us as your solicitors, and by the Court:

When the asset was purchased or accumulated.

Whether the asset considered has been treated by the couple as part of their matrimonial assets.

Income and earning capacity, property and other financial resources that each spouse has or is likely to have in the near future.

The financial needs and responsibilities which each spouse has or is likely to have in the foreseeable future.

The ages of each spouse.

The duration of the marriage.

Any physical or mental disability of either spouse.

Roles in the marriage or civil partnership, for example if one person was the main earner while the other acted as primary care giver.

Before we go into further legal detail on this topic, there are some general behavioural tips to bear in mind which will help the splitting of assets go as smoothly as possible.

Be civil and honest with each other

While this is easier said than done, the entire process will be over much quicker if you are able to reach agreements together in advance. It is important to know what is rightly yours as an individual and what needs to be split. This will all be much easier to deal with if both parties are transparent with one another.

Prioritise the needs of your children

If you have children, especially if they are young, the court will take into account the fact that they need somewhere suitable to live with each parent. As parents, it’s important to keep the needs of your children uppermost in your minds at all times during a divorce or dissolution.

When it comes to children, disrupting them as little as possible must be a top priority.

So, how can property be divided?

When you divorce or dissolve your civil partnership, there are quite a few options you have about what you do with the family home.

Firstly, you can decide to simply sell the home and both of you move out. The money that both get from this could be put towards buying yourselves a new home each, if you can afford to do this. This is usually the easiest option.

Another simple option, if it can be agreed upon, is one person buying the other out of the property. This can be a good route if one person really wants to stay in the same location, while the other wants to seek pastures new.

Thirdly, it is possible transfer part of the value of the property from one partner to the other as part of the financial settlement. The partner who gave up a share of their ownership rights would keep a stake or ‘interest’ in the home, receiving a percentage of its value when the property is sold.

Making a claim for a share of the home’s value

If the home is only in one of the partners’ names, it is possible for the other to make a claim for a share of its value. For example, you might be able to establish a ‘beneficial interest’ if you have paid towards the mortgage, or towards improvements or an extension of some kind.

It is also possible to have ‘beneficial interest’ if your ex-partner bought the home in his or her name but you had an understanding or agreement that you would have a share in its value when it was sold.

Splitting a business

Divorce is likely to have an impact upon any business if either spouse owns one. Interestingly, a business is considered to be as much of an asset as the matrimonial home. When coming to a decision, the Court will consider the value of the business together with all the other family assets, and split them all as they see fit.

If you or your partner own a business outright or are a significant shareholder, a valuation of that business will be required. This valuation will be included as part of a financial settlement in the divorce.

The valuation can be a complex process as it depends upon:

Income from the business
Business assets such as property, stock, machinery, vehicles etc.
The value of any pensions
Whether or not it is possible to extract capital sums from the business
Whether or not it is possible to borrow money against the business or its assets
The ownership structure of the company

How about personal possessions?

We have all seen it before in films and television shows where a divorcing couple argue over who gets to keep the record collection, or the big sofa. It does not always have to go this way.

When thinking about furniture and cars, start by working out where you both will live after you separate as this can help ease the decision one way or the other.

For example, are you both going to need to furnish new properties? If so, divide up the furniture as fairly as possible so that the items you both have are of equal monetary worth.

Have questions? We are here to help!

Here at Lisa’s Law, we understand how difficult a divorce can be, and we will do everything in our power to help you through it. We are a shoulder to lean on as well as legal professionals.

We are operating as usual, and you can reach us on 020 7928 0276 or email in to info@lisaslaw.co.uk.

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Visas for the sole representatives of overseas businesses – What are they?

It is not always easy for a business to expand into a new market. Among others, culture, market conditions, law and tax systems can be completely different. It is natural that the business may want to send someone as its representative to the new market to establish a certain presence before it eventually decides whether it should commit more to the new market.

To enable international businesses to set up and develop in the UK, the Home Office has for some years been administering a type of visa: visas for representatives of overseas businesses.

As with all other type of visas, under the Immigration Rules, there are extensive requirements about both the business and the person chosen to represent it. Unless such requirements are satisfied, the business representatives will not be allowed to enter the UK.

A unique kind of visa category

The representative of an overseas business category is an employment category which exists outside the Points-Based System (PBS). No sponsorship by a UK-based employer is required, which makes it an attractive category for many people. The category provides a route of entry and stay in the UK for:

senior employees whose role is to be the sole UK representative of an overseas business which seeks to establish and operate a registered branch or wholly-owned subsidiary in the UK, and
media employees of overseas newspapers, news agencies or broadcasting organisations who are being posted by their overseas employer on a long-term UK posting.

This category was first introduced on 1 October 2009. It amended the previously existing categories for sole representatives of overseas businesses and representatives of overseas newspapers, news agencies or broadcasting organisations. Additional restrictions to the sole representative aspect of the category were added from 4 June 2020, including the addition of a subjective ‘genuineness’ requirement.

Summary of the key facts:

The main requirements for leave as a representative of an overseas business include, that the person genuinely:

is an existing employee of an overseas business which has and will continue to have its headquarters and main place of business outside the UK

a senior employee whose role is to be the sole representative of the business in the UK and to establish and operate a registered branch or wholly owned subsidiary in the UK, or

an employee of an overseas newspaper, news agency or broadcasting organisation being posted on a long-term assignment.

Eligible applicants must also be able to demonstrate English language competency at, or above, Common European Framework of Reference Level A1.

They must be able to maintain and accommodate themselves and any dependants without relying on public funds.

What is a sole representative?

Sole representatives of overseas companies must have the following attributes:

They will usually have been recruited and employed outside the UK by the overseas business in a senior job role.

They may have a track record of setting up branches or subsidiaries for other businesses, if they have been employed specifically to undertake this current role.

They should have the authority to take operational decisions once in the UK, as indicated by their role in the overseas business’s hierarchy.

Sole representatives must be a direct employee of the overseas business at the point at which initial entry clearance is applied for. The UK branch or subsidiary can employ the sole representative at a later date, however if they are employed in a role which means they no longer have sole executive responsibility for the direction of the branch or subsidiary they will need to switch into a Tier 2 visa route under the points based system.

Sole representatives cannot be:

An agent hired to market the business’s products in the UK (they are normally self-employed and provide services for a fee).
A sales representative or buyer who only fulfils that role for the business: however, senior sales staff who are also responsible for other functions, for example, marketing and distribution, may qualify as a representative of an overseas business.
A secretary or personal assistant accompanying a sole representative.

Terms of employment as a sole representative / salary and hours:

Sole representatives cannot own more than 50% of the shares of the business. They must be considered an employee of the business, not a co-owner.

If the applicant is an employee, the Home Office will normally expect most of the following to be true for successful applicants:

They are required to work regularly except when on leave and have a minimum number of hours they are expected to work.

They have a salary and can expect to be paid for the work they undertake for the business.

They report to someone more senior than themselves in the overseas business and are subject to performance management and disciplinary procedures.

They get paid holidays, sick pay and maternity or paternity pay.

Their employment contract sets out redundancy procedures.

Their employment contract uses terms like ‘employer’ and ‘employee’.

Sole representatives must work full-time but this does not need to be linked to a set number of hours a week. The overseas business must be paying a full-time salary, for example, that is enough for the sole representative to support and accommodate themselves and any dependants without taking other work or relying on public funds.

A new addition to the requirements – “Genuineness”

The Home Office now has the right to request further information to go with the application, in order to waive any doubts about the genuineness of the applicant. If the applicant is unable to provide adequate information in the timeframe that the Home Office asks for it, the application will be refused. The applicant may also be required to attend an interview.

This will not be the case for the majority of applicants, the further confirmation of genuineness will only occur if the Home Office have a reason to believe there is some foul play going on.

Some reasons for the Home Office to suspect foul play include:

the overseas business has only a small number of staff or trading premises

the overseas business has only been set up recently

the overseas business only has a trading presence in one other country and no track record of international expansion

there is little evidence of the overseas business’s trading presence and business activities (whether physical or internet-based).

What do we make of this category?

This is a great category when used correctly, and allows for all different types of people to come into the UK and help the business they represent thrive in the UK. It is a win-win situation.

Although a sole representative should not be deemed as an entrepreneur, setting up a new branch or subsidiary is, in some ways, an entrepreneurial process. This visa category can therefore be seen as an alternative route for people who want to start a business in the UK.

What is more, the Home Office allows any kinds of visa holders to switch to a different type of long-term UK visa until 31 July 2020 from within the UK if their leave expires between 24 January 2020 and 31 July 2020. We at Lisa’s Law believes that this should also include people who want to apply for a Representative of an Overseas Business visa, so long as they meet the requirements.

You can check out the full guidance here.

Have questions? Get in touch!

We are operating as usual, and you can reach us on 020 7928 0276 or email in to info@lisaslaw.co.uk.

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Finally some light at the end of the tunnel? – Property transactions in May see a slight rise

HM Revenue and Customs (HMRC) presents monthly estimates of residential and non -residential property transactions in the UK and its constituent countries, and as you’d expect that last couple of reports have shown a downward trend due to the COVID-19 pandemic.

You can check out our report on the April report here: Lowest rate of property transactions for over a decade! But how can you benefit?

The most recent report is more positive, with rates of property transactions on the up. It might not be the most significant rise, but it is certainly an indicator that a return to normality is on the horizon.

What do the numbers tell us?

As you can see from the above chart, the usual amount of transaction of residential properties in the UK fluctuates between 80,000 and 100,000 each month.

Since COVID-19 started making headlines late last year, and more so in the early months of 2020, these numbers have steadily dropped. For April they were right down to around 40,000 – less than half of the usual amount.

These drops are a result of people feeling uncertain about their futures in the current climate. People found themselves worrying about their job security, the health of their family and themselves. Understandably, this can make completing any house hunting goals quite difficult.

Moving from April to May, however, we can see things moving upward. This coincides with restrictions being lifted and more people following through on their plans to buy and sell property. The world is beginning to be less paralysed by COVID-19.

While the numbers are almost half of those in May 2019, they are 16% better than April 2020 – so it can only be seen as a good thing for the market in terms of the current climate.

As you can see, the trend is very similar for non-residential properties:

Note: Non-residential property includes commercial property; agricultural land; forests; any other land or property which is not residential; six or more residential properties bought in a single transaction, and mixed use transactions.

The market is open for business, and we are here for you!

Even though COVID-19 is still having a major effect on the world, these numbers show us that we are on the road to recovery. It is nice to see this upward trend, and we hope the property market improving will pave the way for all other aspects of everyday life to improve alongside it.

If you have any questions about buying or selling property, we are here for you. We have lawyers specialising in property and conveyancing ready to guide you every step of the way.

Have questions? Contact us!

We are operating as usual, and you can reach us on 020 7928 0276 or email in to info@lisaslaw.co.uk.

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Pubs and restaurants may have to register all customers as hospitality industry re-opens

Decisions on relaxing the 2-metre distancing rule and reopening hospitality on 4 July are expected to be finalised at a meeting of the government’s Covid-19 committee today.

The committee will also be discussing the option of customers having to give their name and contact information on entry, as a means of keeping track of who has been in the establishments. This way, if someone who has been in the venue finds out they have COVID-19, they could let the the business know when they were there so that people who were there at the same time can be notified.

This method is already being used in New Zealand, where pubs and restaurants must record a guest register and carry out regular head counts to trace potential outbreaks of coronavirus.

Matt Hancock, Secretary of Health and Social Care, said:

“What would happen is you would ensure that when you take bookings, you take down contact details so that if someone tests positive and has been in that venue… you’ll be able to contact the people who might be at risk.”

There are some concerns from those who work in the industry, mainly about how they will get their customers to voluntarily give up such data, and also the potential cost of registration systems.

What do we think?

It is paramount that safety comes first in all decision making during this time, and venues should not re-open too soon. This registration option seems like a good additional safety measure, but it must be paired with appropriate social distancing rules to ensure there is little to no risk for the customers.

After today’s meeting, it is likely that the government will outline in more detail the rules that pub-owners and restaurateurs will have to ingrain into their businesses. We will keep you posted as more is announced.

Have questions? Contact us!

We are operating as usual, and you can reach us on 020 7928 0276 or email in to info@lisaslaw.co.uk.

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Time to upgrade! Short term student visa holders can now apply for regular Tier 4 visas from within the UK

New guidance has been released for Tier 4 sponsors, Tier 4 students and short-term study students in response to the outbreak of coronavirus. As always, the concessions will all be kept under regular review by the government and will likely be withdrawn once the situation returns to normal.

As always, we are here to help you with any and all applications you may want to launch. Please do not hesitate to call us on 020 7928 0276 or email info@lisaslaw.co.uk to speak with one of our specialist lawyers.

Below are some important highlights from the latest guidance.

Applying for a Tier 4 visa

Students whose leave expires between 24 January 2020 and 31 July 2020, who would otherwise be unable to extend in country, will be able to exceptionally apply for further leave within the UK. This includes students studying with providers who would otherwise be required to apply from their home country for further leave, such as students with non Higher Education Providers with a track record of compliance.

These applicants will still need to meet the usual requirements of the Tier 4 visa, such as academic progression and maintenance requirements.

Find the full Tier 4 guidance here.

Timeframes

Students will normally apply to study on a course that commences no more than 28 days before their current leave expires, but the Home Office will exercise discretion on this requirement if:

the student has to apply before 31 July because their current leave would expire on or before that date, and
the start date of the new course named on the CAS (Confirmationof Acceptance for Studies) is no later than 1 October 2020

More leeway for students

Students who are unable to complete their studies within their current period of leave due to Covid-19 will be able to apply in country to complete that course. Students who need to repeat a year, retake a module, or resit an exam are exempt from demonstrating academic progression as would normally be the case for those applying in the UK. Further to this exemption, students who otherwise need more time to complete a course as a result of Covid-19 will be exempt from demonstrating academic progression, e.g. where a sponsor suspends studies for the duration of any social distancing measures.

Students whose leave expires between 24 January and 31 July and would normally be unable to demonstrate academic progression because their new course at the same level as the previous one, but who cannot travel overseas to make an application due to Covid-19, will be exempted from the academic progression requirement if the sponsor confirms on the CAS that the previous course and the new course in combination support the applicant’s genuine career aspirations. This concession will apply to courses with a start date before 01 October.

Extending short-term study leave in the UK

Under the Immigration Rules, a person who is in the UK with a visit or short-term student visa will not be able to extend their visa or switch into other type of visas in country. Any such application will have to be submitted outside the UK.

Under the current concession, they will be able to do so. Such application is normally made outside the Immigration Rules.

Further questions

Students with an unconditional offer, but without a CAS yet or students who are simply in the UK with a visitor visa, but have been made an unconditional offer?

We at Lisa’s Law believes that they can all apply for a Tier 4 visa as above. It would not be reasonable to expect them to travel back and apply outside in the current dangerous Covid-19 situation.

You can find the complete guidance here.

Have questions? Contact us!

We are operating as usual, and you can reach us on 020 7928 0276 or email in to info@lisaslaw.co.uk.

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Free visa extensions for family members of NHS workers – but only if you are NOT British?

Here at Lisa’s Law, we feel very passionately about the NHS and all the people who work within it. The UK is so fortunate to have a healthcare system as strong and open as the NHS, especially during such times as we find ourselves in now. Without all of the hard-work, selfless dedication and sacrifices NHS staff make every day, the UK would be in a much weaker position to handle the effects of COVID-19, and all the other illnesses and ailments people face in their lives.

NHS staff are there to look after us, so our government should be looking after them.

The Home Office has announced that NHS workers and their family members will be entitled to 1 year free visa extensions, a policy brought in as a response to the increased demands due to COVID-19.

However, we recently enquired with the Home Office regarding a client, Mrs Lin, who works for the NHS as a midwife. We were surprised to find that her husband is not eligible for the free visa extension, simply because she is British.

This is completely unfair.

No care for the carers

It is outrageous that the Home Office will not grant Mr Lin the free visa extension solely because he is married to a British woman. He meets all other requirements, such as the English language test and combined salary threshold. This is the only thing preventing him from having his visa extended for free.

Surely the Home Office should value all NHS workers, and not discriminate against them; they are sacrificing so much in such difficult circumstances. It is an illogical double standard which should be eradicated.

We spoke to Mr Lin to get his perspective on the situation. He said:

“We feel extremely let down by the Home Office. The NHS staff are saving people’s lives every day, but it seems the government does not appreciate that. Nurses do not get paid a large amount of money for doing such a tough job, but my wife and I are still expected to pay high rates for my visa extension when many other NHS employees do not have to, simply because my wife is British.”

The fee for a spouse visa extension is high. The Home Office charges each spouse visa applicant £1,033 pounds for the visa application, an extra £1,000 for the immigration health surcharge for 2 and a half years, plus £19.20 for the biometric enrolment.

This comes to a total of £2,052.20. A very high price for many families in the UK, especially when so many others are getting the extension for free.

Mr Lin also highlighted the impact the decision has had on him and his wife’s mental health:

“My wife is having awful trouble trying to sleep now because she is so worried. We have a son to look after, who I take care of in lockdown. We wonder who would look after him if I am not around. We are all so stressed about it, as the extension fees are very high for a regular family like us. Our friends and family also cannot understand the government’s decision.”

Truly shocking

There are many who will find themselves in this same situation, being penalised by the government simply because their partners are NHS workers but not also migrants. So many will be forced to pay large fees, or even leave the country due to the Home Office’s negligent treatment of this group.

What do we think about this?

We hate to see people put in negative situations through no fault of their own, and we pride ourselves on finding a route to justice wherever we can. That is why we have started a petition to make dependants of British NHS staff eligible for the free 1 year visa extension.

The petition is as follows:

Equal visa rights for family members of British and non-British NHS workers

The government has announced that dependants of NHS workers are eligible for a free 1 year extension on their visas. Currently, such concession only applies to migrant NHS workers who are also applying. We believe it should be extended to the dependants of all NHS workers, both British and migrants.

One NHS, one treatment to all NHS workers. Nobody working in the NHS should have to worry about their dependants visas at this time. Their sacrifices and hard work are vital. They should all have the full support of the government.

Support NHS workers by signing our petition here.

If you also believe what the government is doing is wrong, please support us by signing the above petition.

Stand together and we will make them change it.

Have a similar story, or want to get in touch? Call us!

We want to hear your story! We are operating as usual, and you can reach us on 020 7928 0276 or email in to info@lisaslaw.co.uk.

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Lockdown divorce rates are sky high…and their affect on the property market is HUGE

Being in lockdown has been hard on all of us, but it has been even worse for couples who were already questioning the lifespan of their marriage. With the current rules keeping everyone cooped up at home, it can intensify an already volatile relationship.

Divorce rates since lockdown have seen a significant rise, and we can tell from our own enquiries that since people have been advised to stay home, more and more couples are throwing the towel in on their relationship.

Data on divorces in England and Wales shows there is an average of 91,299 divorces on an annual basis; should the expected COVID-19 induced increase in divorces of around 40% come true, the UK is looking at around 38,000 more splits than usual in 2020.

What does this mean for the property market?

Thought a divorce is nothing to be celebrated, the property market could be welcoming many more properties if these additional divorces lead to the inevitable sale of the family home.

It would be a massive boost after buying and selling of property slowed to a trickle amid the COVID-19 pandemic, which you can read about in our article here: Lowest rate of property transactions for over a decade! But how can you benefit?

Where people split up and try to start fresh, they clearly need to get a new place to live as a priority. More divorces will naturally lead to more people looking to buy a property.

Thinking about divorce yourself? We are here for you!

We will be writing a more in-depth article on divorce in the coming days, but if you have any questions relating to divorce or property please feel free to contact us.

If you are considering divorce, we are ready to help you every step of the way. We have highly experienced lawyers waiting to take on your case.

Before you end your marriage, you will need to decide:

how to divide any money you share
what happens to the home
where your children will live, if you have any

It is always possible for things to go smoothly in divorces, but often this is not the case. We will support you through thick and thin, making sure you get the best possible deal.

A few legal tips to remember

If you are considering a divorce, and are thinking about buying a new property to move into, it is advisable that you evidence the sources of funds. This is to show that the funds being used to purchase this new property are not part of the family estate. If it can be seen as part of the family estate, your ex-partner may claim ownership over it.

Likewise with purchasing, it is best to refrain from selling any major assets during your divorce. Such actions only complicate proceedings and make it more likely that your action will be seen per some ulterior motive.

Have questions? Contact us!

We are operating as usual, and you can reach us on 020 7928 0276 or email in to info@lisaslaw.co.uk.

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Lowest rate of property transactions for over a decade! But how can you benefit?

HM Revenue and Customs (HMRC) presents monthly estimates of residential and non -residential property transactions in the UK and its constituent countries.

With the world so affected by the COVID-19 outbreak at the moment, we can tell by the recent reports that purchases are on a massive downward trend.

The Figures presented in these reports are based upon records by HMRC, Revenue Scotland and the Welsh Revenue Authority (WRA) for Stamp Duty Land Tax (SDLT), Land and Buildings Transaction Tax (LBTT) and Land Transaction Tax (LTT) respectively.

The numbers are clear

As you can see from the above chart, the usual amount of transaction of residential properties in the UK fluctuates between 80,000 and 100,000 each month.

These drops are a result of people feeling uncertain about their futures in the current climate. They are finding themselves worrying about their job security, the health of their family and themselves. Understandably, this can make completing any house hunting goals quite difficult.

Also, the strict social distancing restrictions on estate agents and rules about viewings put in place by the government over the last couple of months have taken a toll on these numbers. Some of these restrictions have now been lifted, with viewings taking place with safety measurements in place, however we still expect numbers to do a lot lower than normal.

Find our article on the current situation with moving home here: Moving house is possible once again – but how will it work with social distancing rules?

Note: Residential property refers to buildings used or suitable for use as a dwelling, or in the process of being constructed for use as a dwelling. It also includes the gardens and grounds of dwellings.

As you can see here, the non-residential property market has been hit as well, much for the same reasons. Like the residential market, the losses amount to around half the usual amount of business, down from highs of 12,000 to around 6,000.

Looking back…

This drop in property transactions is comparable to levels not seen since the 2008 global financial crisis.

The table below shows the amount of transactions, year on year:

As you can see, levels have not reached the heights of 2006/07 for some time, and we currently find ourselves at one of the lowest points for transactions in decades.

The March 2016 peak you can see here was associated with the introduction of higher rates on additional properties from April 2016.

What do we think?

We have many lawyers in our firm specialising in property law, so we were expecting to see results such as these as soon as it became evident that the coronavirus outbreak was not going to pass quickly. The nature of the disease and the restrictions in place because of it all point to a halt in the market, and this is exactly what happened.

The market is still open and we can help!

Even though the numbers are down, the market is still open and you are still able to buy and sell property. We can guide you through every step of the way if you are looking to buy or sell property.

Even if it seems like nothing good can come of the situation with COVID-19, we are always looking for a silver lining. Especially with those looking to buy a property, the draught within the market may pave the way for some more affordable deals, and you could be surprised with some unexpectedly low asking prices.

We have the professionals to help you whenever needed in your property transactions!

Have questions? Contact us!

We are operating as usual, and you can reach us on 020 7928 0276 or email in to info@lisaslaw.co.uk.

Or, why not download our free app today? You can launch a new enquiry, scan over documents and much more.

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Welcoming Solicitor Evveline Loh into Our Ranks!

We are very happy to welcome Evveline Loh who started working at Lisa’s Law this week.

Evveline has over 5 year’s valuable experience to bring to the team, and she qualified as a solicitor in 2019.

Evveline studied law at the University of Sheffield and subsequently completed her Legal Practice Course at the BPP law school in London.

Evveline has extensive experience in conveyancing, commercial and civil litigation, corporate company law and wills and probate. She comes into her new role with a passion to provide excellent service to her clients in these legal areas and to develop her knowledge in other areas too.

Originally from Malaysia, Evveline has a real aptitude for languages and is fluent in English, Mandarin, Bahasa Malaysia, Hakka and Cantonese.

She has also been carrying out various public pro-bono work for the Chinese community and also private in-house corporate pro bono work.

In these uncertain times, it is fantastic that we are able to continue to grow and develop the team. Welcome Evveline, we are so pleased to have you!

We are open!

We are operating as usual, and you can reach us on 020 7928 0276 or email in to info@lisaslaw.co.uk.

Or, why not download our free app today? You can launch a new enquiry, scan over documents and much more.

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June 5, 2020
Conveyancing, Landlords, Property, Renters, Tenancy Act, Tenants

Renters Let off Unfeasible Fees!

A ban on letting agents and landlords charging their tenants extortionate fees was extended to all renters from 1^st June 2020.

On 1^st June 2019, many fees were banned for people taking on new tenancy agreements. This is known as the Tenant Fees Act 2019, and has now been extended to all renters in the UK, giving private renters more rights over agreements for their homes.

Importantly, it will help tenants who would normally face a fee – usually up to hundreds of pounds – to renew their tenancy agreement instead of looking to move home.

The following fees have been banned:

Fees to view a property,
For a reference or credit checks,
Insurance policies,
Guarantor requests,
For costs to cover “admin” including things like referencing, credit checks and guarantors,
Renewal fees for tenancies taken out after June 1 2019,
Charging for a professional clean, unless they have good reason – and evidence – to,
Gardening services.

The following fees have been capped:

Early termination of tenancy – capped at the amount of rent you would have paid until the end of your tenancy.

Holding fees are now capped at one week’s rent and then must be refunded once you have signed the agreement.

Contract changes are now capped at £50.

A deposit can be no more than 5 weeks’ worth of rent.

Late payments are now capped at 3 per cent more than the Bank of England base rate for every day the payment is late, as long as late payment charges are written into your contract.

Charges can still be incurred for the following:

Rent

A tenancy deposit

A holding deposit

Replacing lost keys

Any changes you request to your contract

Bills such as water, broadband, TV licence and council tax

Terminating your contract early

Late rent payments (after 14 days)

Cleaning fees in extreme circumstances

Feel you have been wrongly charged?

Feel free to call us or email us if you think you have been overcharged by your landlord, we will be happy to advise you.

Generally, tenants who think they have been wrongly charged, can complain to the relevant redress scheme as all letting agents must belong to a Government-approved redress scheme. Tenants should normally be able to find this information on the agent’s website.

If the landlord or agent refuses to give you the fee back, tenants can contact their local council which has the power to fine a landlord or agent.

The last, tenants could recover the payment directly via the First Tier Tribunal. The First Tier Tribunal can order a landlord or agent to repay a payment which has been charged unlawfully. Tenants will need to submit evidence to support any application they make.

What do we think of this?

It can be really difficult to get on the property ladder in this day and age. Not only in London, but up and down the country house prices are high, and more and more people are having to rent out property instead of buy it for themselves.

We feel that as long as the relationship between landlord and tenant is healthy, and everything is agreed to beforehand with no underhand tactics coming into play later, the situation can be beneficial for everyone.

Especially during the tough times we currently find ourselves in, more protection for renters is something that we can support as a firm.

Have questions? Contact us!

We are operating as usual, and you can reach us on 020 7928 0276 or email in to info@lisaslaw.co.uk.

Or, why not download our free app today? You can launch a new enquiry, scan over documents and much more.

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lisaslaw@web

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