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Farron Calls For End to Arbitrary Renting Fees

April 1, 2016 1:59 PM

farron-oration jpgSouth Lakeland MP Tim Farron has blasted the government for its inaction as residents in the North West face the least affordable rental prices in the country outside London. Tim has called for a change to the law which could save renters up to £355 on average.

Tim has called for a ban on arbitrary lettings fees for tenants, which can push renters into debt and make it harder to save for a deposit to get on the housing ladder. These fees are banned in most other countries, including the USA. Average lettings fees per move are £355 and 27% of tenants have to borrow or take out a loan to pay them.

Research by the Association of Residential Letting Agents and the Centre for Economics and Business Research has shown that the North West is the region with the least affordable rent in the country outside London. In the North West, total rent makes up an average of 21.5% of disposable income. This is second only to London, and is 8% higher than the average ratio outside London. This pressure will continue as prices continue to rise.

Tim said: "The North West faces the most unaffordable rental prices in the country, yet the government is standing idly by as renters face an increasingly desperate situation. The government is simply not willing to take action to tackle the housing crisis that we face. Renters are being treated as cash cows and it's time they got the help they deserve.

"Unnecessary fees are a waste of money for those saving to get onto the housing ladder, and they push others into debt. They simply fill the pockets of lettings agents and it's common sense that they should be scrapped without delay."