Private renters are set to save hundreds of pounds as a new law banning letting fees comes into force in England.
Citizens Advice reports that some £234m has been paid out in letting fees since the government committed to outlawing them in November 2017.
The ban finally comes into force on Saturday.
The Tenant Frees Act means renters will no longer have to pay fees that add up to £13m every month in England, meaning potential savings of hundreds of pounds for individuals and families who can no longer be charged for simply looking at a property, setting up a tenancy, or undergoing a credit check.
Citizens Advice is hoping more laws will follow to further aid renters, including a reduction in the amount of cash required for a deposit from six weeks of rent to five weeks.
Gillian Guy, chief executive of the charity network, said: “The end of these uncompetitive and unfair letting fees is a real win for renters.
“The new law means families and other renters don’t have to hand over hundreds of pounds every time they move home.
Letting fees are already banned in Scotland. They are still legal in Wales and Northern Ireland – but the fees are set to be banned in Wales from September.
Source : Sky News : http://news.sky.com/story/renters-to-save-hundreds-as-letting-fees-banned-11732694