CPRS

  • Consumer protection from Unfair Trading Regulations 2008
  • Letting agents must describe properties accurately and not mislead tenants with a misdescription or misleading information.Article 4 Directions
  • “Ideal investment property” in an area restricted by  would be a misdescription if planning permission was not implied or granted.
  • Creative reasoning is not acceptable – e.g. an agent reasoning in defense of such statement, that the property will increase in value, is disingenuous and misleading and need not even be true in a falling market.
  • In order to increase in value the owner is likely to need to let it meantime in order to pay the mortgage.
  • In any event an investment property yields both revenue and capital gains. Both should be achievable to qualify for the description, “Ideal investment property”.
  • See also conflict of interest  and fiduciary duty.

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