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Evening Standard

Business

Michael Hunter

Purplebricks hopes for limited claims from failures within its letting business

Purplebricks AiM United Kingdom

Purplebricks sells houses for a fixed fee but there have been compliance problems in its lettings business
(Picture: PurpleBricks)

Purplebricks has said the number of claims related to failures within its lettings business is so far limited as it reported its first annual loss since 2019 in results its chief executive said were “not good enough”.

The UK’s biggest online estate agency has set aside £3.6 million pounds for claims relating to “process failures” in its lettings division, where it failed to meet legal requirements to tell tenants their deposits were held in a national protection scheme.

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