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Nov 10, 2021 · 10 November 2021 at 4:15PM. We have put in an offer with an Estate Agent, they asked us to send in proof of ID, proof of deposit and lender mortgage in principle. They called back and said our proof of ID (driving licenses -which they requested) was not enough and that they needed to be verified but gave no indication on how we go about doing this?
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HMRC adds 68 estate agents to the list of named businesses not complying with money laundering regulations.
Dozens of estate agents have been fined more than £500,000 for breaching anti-money laundering requirements, HM Revenue and Customs (HMRC) has announced today (11 October 2022).
HMRC named the 68 estate agents that have been fined a total of £519,645 for not complying with rules designed to stop criminals laundering money from illegal activity.
The fines followed the first prosecution of an estate agent for trading despite not registering with HMRC, to ensure compliance with money laundering regulations.
Felix Uwuigbe, Director of Century House Estates Ltd in London, was sentenced to 120 hours of unpaid community service and banned from acting as an estate agent for 2 years after he was convicted of trading for 3 months while unregistered.
Nick Sharp, HMRC’s Deputy Director of Economic Crime, said:
HMRC is one of 25 Anti-Money Laundering supervisors in the UK. HMRC delivers its supervisory responsibility through its Economic Crime Supervision teams.
HMRC helps ensure that businesses comply with the current Money Laundering, Terrorist Financing and Transfer of Funds (Information on the Payer) Regulations 2017 and have systems and processes in place to protect themselves and their services from being exploited for the purposes of money laundering and terrorist financing. HMRC currently supervises around 29,000 businesses across nine different sectors:
•Money Service Businesses
•Accountancy Service Providers
•Trust or Company Service Providers
•Estate Agency Businesses
Proven Expertise. On average we save our clients 9 % from asking prices and 50 % of properties we acquire are not openly advertised. Why Choose Black Brick. A London and country buying agent that does what others don’t. In the UK, estate agents act on behalf of the seller. As a buyer, we act exclusively on your behalf.
Marc, Claire and the team are an absolute joy to work with. They are professional and courteous and provide a constant flow of communication which makes buying or selling such an easy and enjoyable process! 5 star rating all day long! Date of experience: 22 October 2024. Useful.
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Oct 21, 2024 · When it comes to estate agents legal obligations to buyers, they must disclose “fair” information to home buyers and sellers. That includes making “material information” about a property clear, unambiguous and not deliberately misleading or withholding information from buyers. As such estate agents must: 1. Accurately describe the property.
