Landlords to receive advice after letting agent's closure

News Category: Management

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Letting agents in Swindon are making plans to help landlords affected by the collapse of a local rival.

A branch of Northwood in the town has closed after running into financial difficulties, reports the Swindon Advertiser.

Brendan Fagan, the letting agent's owner, told the newspaper he would try to ensure no one is left out of pocket and added that another agency has expressed an interest in taking on his clients and debts.

However, some landlords are known to be concerned about the situation and whether they will be able to meet their mortgage repayments if there are any delays in receiving the money they are owed.

Other letting agents are planning to provide advice for Northwood's clients and Swindon Home Finders is hosting open days on April 9th and 10th 2010 for people affected by the closure.

Sue Gidney of Swindon Home Finders told the newspaper: "Any tenants looking for advice on their rights and the best way to proceed in quickly finding an alternative property, or landlords looking to minimise costly void periods, are invited to attend one of our drop-in advice sessions."

News of the collapse comes just days after the Property Ombudsman revealed he saw a 45 per cent increase in the number of complaints about letting agents in 2009.

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