Dorian Gonsalves, chief executive of PLC (), tells Proactive London's Andrew Scott a ban on tenant fees from June will have less of an impact than first thought.
Originally, Belvoir, which runs the UK’s second largest letting network, forecast the ban would knock 8% from gross profits – now it’s estimating that’ll drop to 3% after nine months as a shift into financial services and mortgage advice has diversified revenues.
Meanwhile an increased contribution from financial services helped revenues in 2018 rise by 21% to £13.7mln.
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