Ewan Foreman

Registered with Property118.com
Thursday 30th January 2014


Latest Comments

Total Number of Property118 Comments: 5

Ewan Foreman

22:46 PM, 3rd March 2014, About 7 years ago

Does landlord or agent keep the holding deposit if a tenant pulls out?

Agents took the entire hit. Rents are rising, landlords are paying a bit more in fees and agents are earning less. The removal of tenant fees also came at the same time as the mandatory custodial tenant deposit scheme and some found the heat too much and sold up - a few went out of business.... Read More

Ewan Foreman

18:23 PM, 3rd March 2014, About 7 years ago

Does landlord or agent keep the holding deposit if a tenant pulls out?

Reply to the comment left by "Mark Alexander" at "03/03/2014 - 16:52":

We have of course got used to no tenant fees here in Scotland because we have no choice. All I was really trying to do was alert people to the fact that even reasonable fees are not a given in the future. We used to charge (modest) tenant fees when we were allowed to. Because our fees were modest we had no great height from which to fall when they were removed. UK governments (and especially a labour government) could come under intense pressure to assist PRS tenants and burning letting agent fees would likely gain more votes than it lost!... Read More

Ewan Foreman

16:01 PM, 3rd March 2014, About 7 years ago

Does landlord or agent keep the holding deposit if a tenant pulls out?

Holding deposits or tenant fees of any sort are now illegal in Scotland as you may know. So what has happened? Has every letting agent in Scotland died a slow death as a result of the Scottish Government introducing "no more fees" tenant protection legislation last year?

Not at all. The industry has adapted and aggressive operators are now finding it harder to get a foothold in what is still a fairly unregulated industry. Many take the view that the Scottish Government have over-reacted. Nevertheless, it seems likely that the private rented sector will continue to be subject to increased regulation in all parts of the UK and running a business which depends on unreasonable tenant fees is therefore not advisable in my view.... Read More

Ewan Foreman

13:41 PM, 30th January 2013, About 8 years ago

Student Buy to Let - 100% mortgages available to students!

Mark, thank you for your direct and open response. In answer to your question: No lender will offer a 100% mortgage without generous amounts of security in return. The circumstances under which it is wise to offer security over the mortgaged property + additional security in the form of PG's or security over an additional family home in order to get 100% funding to buy a property that you otherwise can't afford are non-existent in my experience. The requirement for a 100% loan implies that the borrower has limited cash reserves. Promoting 100% loans to students therefore does little to suggest that we have all learned to stop living beyond our means and start addressing our £1.1 trillion UK debt figure.... Read More

Ewan Foreman

15:51 PM, 27th January 2013, About 8 years ago

Student Buy to Let - 100% mortgages available to students!

It is now widely recognised that irresponsible lending and irresponsible borrowing played a very large part in the current financial crisis. Perhaps others see giving excessive levels of security in exchange for excessive levels of borrowing as wise and responsible. I do not.... Read More