Bank ruling gives hope to Foxtons

The recent Supreme Court ruling over bank over draft charges is likely to give some encouragement to letting agents such as Foxtons which charges landlords a renewal fees even when the landlord takes responsibility for letting the tenancy.

Foxtons has recently won it's right to appeal against the original judgement by Mr Justice Mann.

Landlords are awaiting the outcome of this test case to establish whether they will be able to potentially apply to reclaim many millions in renewal fees paid. Foxtons currently charges 11% to the landlord regardless of whether they had played any part in the reletting of the property.

For more on the implications of the overdraft ruling on the Foxtons case.

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