A major UK estate agents firm has criticised the government’s decision to abort plans that would have increased regulation of letting agents.

Last week, housing minister Grant Shapps announced that Labour’s proposals for a national landlords’ register and full regulatory control of letting agents would be scrapped.

Hugh Dunsmore-Hardy, non-executive director of Winkworth Franchising Ltd, who oversees the legal and regulatory aspects of the business, has condemned the decision, claiming that it puts landlords in a “precarious position”.

He said: “Estate agents are subject to statutory regulation and are required to provide routes to independent redress, whereas letting agents are not subject to such regulation, and yet they have far greater access to clients’ monies which remain unprotected.”

Mr Dunsmore-Hardy added that variable standards of service by lettings agents across the UK put landlords and tenants in a difficult position when pursuing compensation for unprofessional and inadequate service.

John Heron, managing director of Paragon Mortgages last week welcomed the decision to ease restriction on landlords, but said he believed that ignoring letting agent regulation is a mistake.

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