NEWS FLASH: Foxtons drop appeal...

03 February 2010

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1 Comments

Written by rosalind renshaw

In a statement this morning, Foxtons said they would not be pursuing an appeal against last summer's ruling on renewal fees.

As a result, it would appear that agents can continue to charge renewal fees provided these are spelled out up-front in large print.

However, the financial implications for Foxtons, which could be facing claims by landlords who were charged renewal fees that they felt had been hidden away, are unclear.

More on this story on Friday's EAT.

The statement says: “During the final stages of the renewals legal case last year, Foxtons amended its renewal terms and conditions so that they were acceptable to the OFT and the High Court Judge. These new terms have now been formalised in a High Court order and we therefore no longer feel it necessary to appeal the High Court decision. The new terms are more user friendly and provide for renewal commission to be charged at a reduced level and for a maximum of two years, making them very attractive to landlords."

Comments

- Ray Evans Of Sheringham
".....As a result, it would appear that agents can continue to charge renewal fees provided these are spelled out up-front....."
Is this not normal commercial practise in any terms of business - as Foxtons should have used all along?
- 03 February 2010 10:32 AM