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ARLA welcomes DTI action over BTL companies

Action by the Department of Trade and Industry to wind up a string of buy to let advisory and investment services is welcomed by the Association of Residential Letting Agents.

The DTI announced it has taken action in the High Court to have these companies wound up in the public interest.

Examples of practices that raised concerns include two companies offering to help investors build 1m property investment portfolios and others operating 6,000 courses to teach investors how to acquire BTL properties without payment of deposits.

ARLA chief executive Adrian Turner says: “We can only hope news of the DTI action gets around fast so that no more people are promised the earth at exorbitant prices but make informed decisions based on professional advice which is available to them free.”

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