Help at hand for Riot Victims

Those whose homes or businesses were damaged in the recent UK riots will be able to seek compensation under the 1886 Riot Damages Act, the Prime Minister David Cameron announced on Thursday (11th August). Any homeowner or business person whose property was damaged would be able to seek compensation under the Riot Damages Act even if they were uninsured. The government would provide police with funds to ensure they could meet "legitimate claims". If you've suffered loss or damage as a result of the riots, you may be able to claim compensation.If you have insurance, check that your policy covers riot damage. If it does, contact your insurer directly to claim.If your insurance doesn’t cover riot damage, or you don’t have insurance at all, you may be able to claim compensation from your local police authority.To claim, complete a claim form and send it to your local police authority. You can download a form, and find your local Police Authority by using the the Direct Gov website. You have 42 days to make a claim for compensation, starting with the first 'clear day' after the disorder.

Mortgage lending jumped in June, say lenders.

According to new statistics from the Council of Mortgage Lenders (CML).

The total number of new home loans to house buyers rose by 22% from May, to 46,700.

First-time buyers reached a 10-month high, up 24% from May to 18,100.

The CML have commented that the figures whilst not back to the level of a few years ago, were still encouraging.

We can help you with a range of Property Legal matters for more information call us on 020 8848 9988 or Email us on admin@clicklaw24.com

Checklist: tenancy deposit schemes

This checklist explains what a tenancy deposit scheme (TDS) is and what a landlord’s obligations are under a TDS.

What is a TDS?
A landlord under an assured shorthold tenancy (AST) must protect a tenant’s deposit by using an authorised tenancy deposit scheme (TDS) operated by an approved scheme administrator. A TDS has two main objectives:

• To ensure that, when a tenant pays a deposit, it will be protected and returned to the tenant at the end of the AST, except when the landlord has a legitimate claim on it.
• To resolve disputes between landlords and tenants using dispute resolution rather than via the courts.
There are two types of TDS:
• A custodial TDS requires a landlord to pay its tenant’s deposit to a scheme administrator, who holds the deposit until the tenancy ends.
• An insurance TDS where the landlord retains possession of the deposit, but secures it by paying a fee and insurance premiums to the scheme administrator.
What are a landlord’s obligations under a TDS?

Within 14 days of receipt of the deposit a landlord must:
• Comply with the “initial requirements” of the TDS.
• Give the tenant certain prescribed information.
What sanctions are available if a landlord fails to fulfil their obligations under a TDS?

A tenant can apply to the court for sanctions against the landlord if the landlord fails to comply with the initial requirements or give the prescribed information. If the court is satisfied that the landlord is in breach of either of these requirements, it can order the:

• Person holding the deposit to either repay it to the applicant or pay it into a custodial TDS.
• Landlord to pay the tenant a sum equal to three times the amount of the deposit.

More information
If you have any questions about the content of this checklist, please contact our Residential Property Department on 020 8848 9988