FCC Paragon tackles Right to Rent head-on with innovative indemnity scheme
With less than a month until Right to Rent is officially rolled out across England, FCC Paragon are urging Letting Agents and Landlords to start carrying out these checks now.
Those found guilty of renting to individuals with no legal right to live in the UK, could be fined up to £3,000 per illegal occupier. By providing extra support and guidance to their clients, Paragon are offering to mitigate the risk of a potential penalty, by providing a financial indemnity to their clients who use their referencing service.
Paragon clients are able to opt in or out of the Right to Rent indemnity scheme. By opting in, FCC Paragon will manage the checks and report to the Home Office for them.
As immigration becomes both directly and indirectly, the largest contributor to population growth (projections from the Office for National Statistics shows the UK population increasing from 63.7 million people in 2012, to reach 73.3 million by 2037), it is now more important than ever for Letting Agents and Landlords to ensure the right checks are being made in-line with current government legislation.
[The impact of immigration on population growth – Migration Watch UK: http://bit.ly/1W3CbTO]
James Brokenshire, Immigration Minister said; “Right to rent is part of the government’s wider reforms to the immigration system to make it stronger, fairer and more effective. Those with a legitimate right to be here will be able to prove this easily and will not be adversely affected. The scheme is about deterring those without the right to live, work or study in the UK from staying here indefinitely.”
[Immigration Minister – James Brokenshire: http://bit.ly/1mSLLfR]
Janie Gaston, Operations Director at FCC Paragon said; “We are doing everything we can to continue to ensure that the products we offer suit the changing needs of the lettings market. As knowledgeable professionals of the lettings industry, we consider it our responsibility to ensure our clients are up to date with current government regulations, and by doing so, continue to provide those registered a great service along with a duty of care.”
Janie continued; “In a bid to tackle Right to Rent head on, we looked at how we can best develop our services to provide our Letting Agents and Landlords with peace of mind and evolve our already successful referencing service. In our pursuit we attended and presented at a number of industry events, most recently of which at a local Landlord Association. It was at this event that concerns were voiced by local Landlords with regards to the 28 days in advance ruling and comments made to abstain from renting properties to foreign nationals.”
“Our Right to Rent indemnity package, which is free if a full reference is taken, includes foreign national checks and indemnity against financial penalties*. Our expertise in this area allows us to offer this service confidently.”
For more information on Foreign National Checks and Referencing packages provided by FCC Paragon, please call 0844 375 9601 or alternatively email email@example.com.
*Subject to full terms and conditions.
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We are authorised & regulated by the Financial Conduct Authority. Our Firm Reference No. is 304595. Our Consumer Credit Licence No. is 647394.
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