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Written by rosalind renshaw

Insurance firm Let Alliance has reported a big increase in the sales of rent guarantee policies during the last six months.

The increase in demand for rent guarantee protection has resulted in Let Alliance providing cover in 49% of the total reference transactions completed. This is an increase of 39% during the last six months.
 
Now at the end of its first full year of trading, Let Alliance says it has 251 letting agents completing references with them every day.

The increase in rent guarantee sales is predominantly down to concerns over rent increases and tenants’ job security.

Paul Pearce, sales director at Let Alliance, said: “Letting agents are making sure that they protect their landlords income more often than we expected.”

Let Alliance has also agreed a distribution deal with Personal Touch Financial Services, providing their 1,500 brokers and independent financial advisers with specialist landlord insurance products.
 
Let Alliance is also beefing up its sales team with the appointment of  Oliver Sherlock, who will be joining from HomeLet.

Andy Halstead, former chief executive of Erinacious Insurance Services – now Barbon –  which owned HomeLet, and who went on to found Let Alliance, said: “Our first full year has been an outstanding success and we have outperformed all expectations.

“By the end of this year we plan to be working with 1,000 letting agents.”

Comments

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    Because it is significant industry news. The situation of individuals does not give Let Alliance any pleasure, however we will seek to take competitive advantage.

    • 25 February 2012 11:55 AM
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    You get no "pleasure" from the "problems" your "friend" john faces? Why did my colleague get a tweet from let alliance with a link reporting their problems!

    Comedy gold.

    • 24 February 2012 23:50 PM
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    Hi Industry Observer - you are right, on this occasion yours is a michevious thought. Let Alliance referencing is solid and our rent guarantee products lead the market. 'Nil' excess and great value for money, oh.....and no compulsion. Our customers work with us through choice.
    Keep up your comments, generally your views are well balanced and worth reading.

    • 21 February 2012 17:33 PM
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    A michevious thought but you don't suppose a higher %age of Landlords using Let Alliance as referencers are taking LERG because they have little faith in the quality of the referencing do you?!!!

    Or heaven forbid because it is being made compulsory for landlords - watch out the FSA are about!!!

    • 21 February 2012 17:22 PM
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    Hmm.

    • 21 February 2012 15:07 PM
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    Now now Oracle - not quite fair. The Let Alliance team left Homelet in 2008 and the business was in very good shape, having successfully dealt with an FSA arrow visit. The 'real' John Boyle is a friend of mine and we get no pleasure from the current problems that he faces.

    • 21 February 2012 14:32 PM
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    I'm surprised you don't already John! Considering that these would have set the business model leading to homelet and letsures current troubles when they were erinaceous, sold the business for a fat profit then start again under their current label, it sounds to me like homelet MK 1 and a half. Also may explain these articles being posted side by side.

    • 21 February 2012 14:08 PM
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    Giz a job mate!

    • 21 February 2012 13:26 PM
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