Agencies set up anti-money laundering and part-exchange services

The Guild of Professional Estate Agents and Fine & Country are offering agent members the option to have in-person reviews and re-writes of their anti-money laundering policies.

The Money Laundering Regulations 2017, introduced six weeks ago, focus on confirming the identity of buyers as well as sellers, with increased focus on identifying Politically Exposed Persons (PEPs). 

Now Guild and F&C agents are being offered optional branch visits or ‘remote support’ to cover staff training and reviews of systems and procedures to ensure compliance. 

A written audit report will be given, which will meet the ‘external audit’ requirements as detailed in the regulations.

Meanwhile, Spicerhaart’s part exchange service - previously known as Momentum and AMC - has been rebranded Part Exchange & Assisted Move with an expansion of the services it offers. 

These now include a fully funded part exchange proposition. While aimed chiefly at serving house builders and developers, it will also help home buyers to move into a new build property by facilitating the sale of an existing house for them.

Part exchange also benefits developers who have new homes to sell, as by working with Spicerhaart Part Exchange & Assisted Move, part exchange can be offered “even outside the usual criteria” according to the company.

The Part Exchange & Assisted Move service arranges two independent valuations of the property, provides a valuation report to the developer, and then facilitates a cash offer to the home buyer for their existing property.