Lettings reference firm LetsXL has struck a deal to transfer its 300 agent clients to rival The Lettings Hub after the Welsh business became commercially unviable and ceased trading.
Colwyn Bay-based LetsXL Ltd was established 2002 and had until relatively recently been a workable business offering both referencing, landlord insurance and rent guarantee warranties from major UK companies such as AON, Call Credit and LV=.
Rumours about the company’s viability have been circulating for several weeks but the company confirmed on August 30th that it would cease trading.
Now, The Lettings Hub has confirmed that it is to step in and continue the provision of all LetsXL’s three key products to its customers.
The Lettings Hub is now busy speaking directly to all of LetXL’s customers.
“We’re working with the former LetsXL team, who want to protect the interests of both their clients and employees as best they can in the current predicament,” says Heidi Shackell, CEO at The Lettings Hub (left).
“We’re pleased to be in a strong position as a brand and this means we’ve been able to step in, take control of the business and get the normal LetsXL operations back up and running within the last 48 working hours.
“Employees are back in position, processing referencing, insurance and rent warranties for all clients.
“Obviously, we want to assure LetsXL clients that this positive move and that they will see no further disruption to service.
“As a leading brand in the market, we have full awareness of our responsibility to them. As part of the deal we have agreed that for those who remain as a customer, we will assume the liability for rent warranties and handle any outstanding claims in line with normal service procedures.”