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  • Tenant Referencing

    FYI - LetsXL Referencing and Insurance

    We've heard from a lots of different sources today that LetsXL have gone into liquidation with immediate effect.

    This has numerous impacts across their Tenant Referencing and more importantly their Rent Guarantee activity.

    It would be good to hear from any agents and / or landlords who are impacted by this and whether the group here can help with products and services.

    One piece of information we have been made aware of is that all Rent Guarantee Warranties (Important word there - Warranty) purchased prior to July 1st are no longer valid. This highlights a very important message about this type of product. With an Insurance product you would have recourse and cover with the underwriter - as LetsXL sold a "warranty" they were the underwriter and so many business will have lost a lot of money through this process.

    If you're buying Rent Guarantee if you buy an Insurance product and you would covered in this type of eventuality.

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    Hi Mark, The Lettings Hub have agreed a deal with LetsXL to step in and ensure their clients continue to have uninterrupted access to tenant referencing, let property insurance and rental warranty services from 5th September 2019.

    We can confirm that all clients have been contacted, and have been advised that we have taken control of the business and the normal LetsXL operations is back up and running within the last 48 working hours.

    Employees are back in position, processing referencing, insurance and rent warranties for all clients. Please view the link here https://propertyindustryeye.com/lifeline...s-trading/ to read the press release that covers this news.

    If any LetsXL clients have any questions or need to contact us then please call us on 01733 396016.

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