The Importance of AML checks in Estate Agency
The Importance of AML checks in Estate Agency: Ensuring Compliance and Protecting Clients
How Freeagent247 and Lifetime Legal Make AML Compliance Easy
In the world of estate agency, Anti-Money Laundering (AML) checks are a critical regulatory requirement mandated by HMRC. Without proper AML checks, estate agents can face significant fines and legal repercussions, including financial fines, criminal charges, and business disruption.
To mitigate these risks, Freeagent247, we have partnered with Lifetime Legal to streamline this process, ensuring compliance while offering additional benefits to both sellers and buyers and enhancing your overall experience. The process is quick and user-friendly, allowing transactions to proceed without unnecessary delays.
Additional Benefits with Lifetime Legal
Beyond AML compliance, Lifetime Legal offers a 3-month free membership that includes:
- Free Legal Advice: Access to professional legal guidance.
- Will Drafting: Free standard or mirror Will drafting services.
- Mover Protection: Financial protection in case a property transaction falls through.
This cover is extendable at an additional cost of £8.99 per month until the transaction is completed.
Mover Protection: A Case Study
One of our clients recently benefited from the Mover Protection service. Here’s her feedback:
“I am pleased to confirm I have received the costs back as of today—just under two weeks from start to finish and easy to use with good communication from the company. Highly recommend.”
Cost Breakdown of the Claim:
- Searches: £300 (capped, actual was £350)
- Mortgage Valuation Fee: £100
- Solicitors Fees: £134.30
Overall, the client was only £50 out of pocket, a testament to the efficiency and effectiveness of the Mover Protection service. This month alone, Lifetime Legal has paid out nearly £35,000 in claims, underscoring the value and reliability of this protection.
Trustpilot Review
Our client also left a positive review on Trustpilot:
“Mover Protection – A positive experience. Due to a purchase falling through, I was very glad to have Mover Protection in place. Everything went smoothly, and the process was very efficient. From start to finish, it took just under two weeks to receive the money back. Highly recommend to anyone navigating the sometimes-tricky process of buying and selling property.”
Conclusion
AML checks are essential for maintaining trust and integrity in the estate agency industry. By partnering with Lifetime Legal, Freeagent247 ensures compliance with HMRC regulations while providing valuable benefits to our clients. The streamlined verification process and additional protections like Mover Protection make the property transaction journey smoother and more secure for everyone involved.
Want to find out more?
Office: 01905 905996
Mobile: 07486 031 975
hello@freeagent247.com
8 Basin Road, Diglis, Worcester, Worcestershire, WR5 3GA.
By appointment only.
