Compliance

Overview

Our office is independently owned and operated and run to the highest standards of service & transparency. We undertake regular audits in accordance with our agreement to ensure compliance and best practice. In the unlikely event you are dissatisfied, then please follow our complaints procedure.

Compliance

We regularly engage the services of a specialist compliance company to ensure we meet with ever changing legislation. Our office undertake mandatory training which is constantly updated.

Protection

We will not discriminate against any person on the grounds of: age, gender reassignment, being married or in a civil partnership, being pregnant or on maternity leave, disability, race including colour, nationality, ethnic or national origin, religion or belief, sex or sexual orientation.In addition to these ‘Protected Characteristics’, we do not discriminate against parents, single parents nor anyone claiming benefits or any form of discrimination either directly or indirectly. We believe that every tenant’s circumstance is different and as such they should be treated on a case-by-case basis based on their ability to sustain a tenancy.

Compliance with Money Laundering Regulations

Should you decide to use our services then the instructed agent will be duty bound to carry out due diligence on you to confirm your identity as prescribed by the Money Laundering Regulations 2017. This information will be processed by the Agent and their staff only to ensure compliance with the Money Laundering Regulation’s and will be shared with your appointed Conveyancing Lawyer. For a seller these consist of checking identity and residency status on signing an Agency Agreement prior to the Agent being able to market a property for sale. For a buyer the checking of identity and residency status on acceptance of an offer prior to the production of a Memorandum of Sale.

The Fifth Money Laundering Directive (5MLD)

5MLD took effect in the UK on the 10th January 2020. 5MLD made changes to the previous UK regulations and now brings letting agents into the scope of the Money Laundering Regulations for the first time. This means that letting agents will be required to assess certain tenancy agreements for their potential to be used as a mechanism for the proceeds of crime. All tenancy agreements with a rent in excess of €10,000 per calendar month will now form part of the regulations. This means that lettings agents will be required to carry out “Know Your Customer” checks on landlords and tenants. “Know Your Customer” requires the checking of identification documents and confirmation of residency status, as well as verification that the tenancy is genuine and not set up to assist either the landlord or tenant to launder the proceeds of crime. Tenancies that fall within the scope of the regulations will require on-going monitoring to check that the initial conclusions regarding the money-laundering risk assessment remain unchanged throughout the whole term of the business relationship. Landlords and tenants who fall into this category of tenancy should therefore prepare themselves for additional questions and administration requirements.