Money Laundering Policy & Client Money Protection

Foxwood Maclean Money Laundering Policy

As an Estate Agent, Foxwood Maclean is subject to the Money Laundering Regulations 2017. This means that we have to obtain and hold identification and proof of address for all customers. Additionally, we are also required to establish whether there are any beneficial owners on whose behalf the transaction or activity is taking place, hence, we would request you to identify anyone who you would consider to be a beneficial owner. Where appropriate, the source or destination of funds may also be requested. Without this information we will be unable to proceed with any work on your behalf.

Below is a list of acceptable identity documents. We require sight of all original or certified documents. Subject to your individual circumstances, Foxwood Maclean may liaise with you for further/other documentation.

Individual identity documents

Foxwood Maclean requires one document from List A and one document from List B.

List A – Identity Document

  • Current signed passport
  • Valid UK driving licence
  • EEA member state identity card

List B – Proof of Address

UK/EU/EEA Drivers Licence (if UK Drivers Licence not used as ID)
Must be valid, not expired. Photo only. Full or provisional.

Bank, Building Society or Credit Union Statement
Dated within 3 months. Must include account number and show recent activity. No general correspondence.

Credit Card Statement
Dated within 3 months. Must include account number and show recent activity. No general correspondence.

UK, EU, EEA Mortgage statement
Dated within 12 months. Must show account number. No general correspondence.

Utility Bill
Dated within 6 months E.g. Gas, electricity, water. Must show address for service and/or account number. No general correspondence.

Telephone Bill
Dated within 6 months E.g. Landline or mobile pay monthly (excluding pay as you go). Must show address for service and/or account number. No general correspondence.

Council Tax
Dated within 12 months. Must show address for service and/or account number. No general correspondence.

Tenancy Agreement
Dated with 12 months. Must state full name and full property address. Issued by local council, housing association, solicitor or reputable letting agent.

Benefits Entitlement Letter
Dated within 12 months. Issued by DWP or Jobcentre plus. Must confirm benefit payable at time of issue. E.g. Pension, disability, single parent, housing etc.

HMRC Tax Notification
Dated with 6 months. Must state national insurance number and tax calculation. No general correspondence.

Home or Motor Insurance Certificate
Dated within 12 months. Must state insured address or registered address for vehicle and policy number. No general correspondence.

UK solicitors letter confirming house purchase/land registration
Dated with 3 months. Must state full name of new proprietor and full property address.

NHS Medical Card or letter from GP confirming registration
Dated within 3 months. Must state individual’s date of birth and NHS number. No general correspondence.

Official confirmation of Electoral Register entry or official poll card
Dated within 12 months. Must state full name and full address. No general correspondence.

Police Registration Certificate
Dated within 12 months. Must state the full residential address of the individual.

Probate

If you are acting as a Representative of an Estate we require the following:

  • Grant of Probate (if a will was left)
  • Letter of administration (if no will left)
  • Individual identity evidence from List A & B for the Personal Representative, either executor or administrator

Limited company

If you are acting as a Representative of a UK Company we will also require the following:

  • Certificate of Incorporation
  • Articles of Association
  • Memorandum of Association
  • Latest Annual Return or Confirmation Statement, with details of current company officers
  • If offshore, nominee director declaration and a general power of attorney
  • Individual identity evidence from List A and B for all individuals or entities with 25% or more of the shares or voting rights in the company

We do not deal with offshore companies

Trust

If you are acting as a Representative of a Trust we require the following:

  • Trust deed
  • List of trustees
  • List of beneficiaries
  • Individual Identity evidence from List A & B for all individuals with a vest interest in 25% or more of the capital and/or those who exercise control over the Trust

Client Money Protection (CMP)

Your money is in safe hands when letting through Foxwood Maclean as we are members of ARLA Propertymark meaning our landlords’ and tenants’ money is protected through Client Money Protection (CMP).

What is Client Money Protection (CMP)?

The client Money protection (CMP) Scheme provides compensation for Landlords and tenants when agents misuse or misappropriate their rent, security deposit or any other client funds.Should this happen and a landlord is using a letting agent who is registered with ARLA Propertymark, the landlord can make a claim and Propertymark will arrange a reimbursement*.  Every year unprotected landlords an tenants lose money when their funds are misappropriated.

As a Foxwood Maclean Landlord, you dont have to worry

We are a proud member of ARLA Propertymark which means not only is your money protected but we also come with these benefits

  • Experienced and trained experts who are required to attend regular meetings
  • our experts are kept up to date with the latest registration changes and lettings best practice
  • We adhere to the nationally recognised TPO Code of Practise

To find out more about what it means to be an ARLA:Propertymark agent please visit the ARLA Website. To see our CMP certificate please click on the link below.

Client Money Protection – Security Certificate

How do you check if your agent is protecting your money?

It is estimated that 40% of letting agents aren’t protected**.  You should always double check that your agent has CMP and is registered with Propertymark.

  1. Check that your agent is covered at propertymark.co.uk/find-agent
  2. In accordance with Consumer Rights Act, an agent must display in their office and on their website if they have CMP and who provides it for them.  In the same way, an agent must disclose if they have no CMP cover.
  3. ARLA Propertymark suggests you ask your agents questions such as
  • Are you giving tenants all of the documentation required by law at the start of the tenancy?
  • How can you protect me and my property in this increasingly litigious world?
  • What if the tenant defaults on rent payments and what is the timeline of expectations?

** EstateAgentToday February 2018

What to do if your letting agent doesn’t have CMP?

Talk to Foxwood Maclean, we protect our Landlords’ money

  • We are more likely to avoid any void periods for you as we already have waiting registered tenants.
  • Our hands on approach and 24/7 access ensures that we handle queries as they arise

If you want to know more about how we can help, contact us on 01233 812606 for a truly personal service tailored to your needs

Please click on the link below to see our CMP certificate.

https://documentcloud.adobe.com/link/track?uri=urn%3Aaaid%3Ascds%3AUS%3Ab27dd26a-7008-4f88-9f8b-add943f24bf0