In a recent episode of the Martin Lewis Money Show Live, renowned money-saving expert Martin Lewis issued a warning to renters in London, advising them to scrutinize their rental properties for potential financial claims against their landlords.
During the Tuesday evening broadcast, the 51-year-old emphasized the importance of verifying whether the rented property holds the necessary licenses. Lewis directed tenants to utilize the property licence checker on London.gov.uk, stating, “If your landlord hasn’t followed the rules, you might be entitled to thousands of pounds in back rent, so it is worth checking that one.”
A valid property licence is a legal requirement and signifies that the property meets suitable living standards and is managed to an acceptable level.
According to information provided by London.gov.uk, tenants who are not part of a council or housing association, pay rent, have a property not solely occupied by the owner or their family, and not exclusively inhabited by a resident landlord with up to two lodgers can check the licence status.
Failure to possess a licence renders a Section 21 notice, typically used to initiate eviction proceedings, invalid. In such cases, tenants may be eligible to seek a rent repayment order through a tribunal, potentially resulting in a financial award of up to 12 months’ rent.
Lewis also shared valuable advice for renters looking to enhance their credit rating by emphasizing the importance of timely rent payments. He recommended using services to track and report rent payments to credit agencies.
Additionally, for those aspiring to enter the property market, Lewis outlined three essential tips to secure a mortgage amid widespread rate cuts by banks. He urged potential applicants to meticulously check their credit reports on Equifax, Experian, and TransUnion for errors and emphasized the significance of avoiding missed payments that could negatively impact their credit scores. Lewis cited instances where mortgage applications were hindered due to seemingly trivial issues, such as outdated mobile phone information linked to the wrong address, cautioning that such discrepancies could be misconstrued as fraudulent activity.