New regulation of agents confirmed by government
Summary
The government has confirmed plans for independent regulation of property agents, with an initial focus on leasehold-related fees and charges. It also intends to consult on caps for permission and administrative fees, and to require property agents to be licensed and qualified under a new regulatory framework.
Why it matters
These proposals could change the compliance environment for agents and affect the way leasehold and estate charges are handled in practice. Surveyors involved in leasehold, valuation, or property management work may need to understand how new fee caps, licensing, and complaint-handling standards could affect clients and transactions.
Key points
- Government plans independent regulation of property agents
- Initial measures appear to target leasehold and freehold estate permission fees
- Consultation to follow on which fees should be capped and at what levels
- Administrative charges, including for documents such as building safety certificates, may be restricted
- Property agents may need licences and appropriate qualifications under the new regime
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