Latest News

General Election and Brexit add to uncertainty weighing on housing market confidence

11 December 2019

Brexit and the General Election result pose two of the biggest risks to the stability of the housing market in 2020, the Building Societies Association’s quarterly Property Tracker survey reveals. A rise in the cost of living and weak economic growth is also significant perceived risks. Read More...

GE2019 - How do the manifestos match?

10 December 2019

Before the political parties finalised their manifestoes for the General Election on 12 December, Propertymark published its own ‘manifesto’ calling on the new Government to regulate and reform the housing sector. How do the major parties’ manifestoes meet Propertymark’s calls on the issues the property industry faces? Read More...

An interesting year for the housing market – 2019 trends

04 December 2019

Propertymark has analysed its sales and lettings data to reveal trends from the year. Supply has dropped considerably over the past decade while demand has increased, but year-on-year has remained relatively stable in the face of Brexit uncertainty. Read More...

Lonres acquires AML Health Check provider FCS

Monday 30 September 2019

Business-to-business trading platform Lonres has bought leading AML consultancy Financial Crime Services (FCS), which provides Propertymark’s AML Health Check services and training courses.
The acquisition of FCS does not mean its services will be only available to Lonres subscribers; its work with residential and commercial agents from across the UK will continue. Propertymark members can still book their AML Health Check with confidence.

Anthony Payne, Managing Director of LonRes says, “Two staff from our office signed up to go on one of Jerry’s NAEA all-day courses and to be honest they weren’t thrilled by the prospect, but they came back raving about the course saying it was brilliantly engaging so, eventually, we began talking to Jerry about acquiring his business.”

This acquisition comes at a time when HMRC is focussing on estate agents as part of a wider money laundering crackdown.  Agents are expected to put in place controls and procedures into place to deal with AML and terrorist financing. Penalties such as significant fines, management bans, and even jail time face those who do not comply.

Jerry Walters, Managing Director of Financial Crime Services said, “AML policy is becoming ever more complex and for those who fail to understand it, the fines are large.  It is easy to be unwittingly non-compliant, but for HMRC this is no defence. 

“Our background in financial crime enforcement gives us a unique understanding of the intricacies of AML policy which in turn enable us to give practical help and guidance to property professionals.  The London property market has been ear-marked as a centre for money laundering and our comprehensive services are designed to ensure that businesses are compliant at every level.”

Get compliant on AML

Compliance with AML regulations is important but needn’t be worrying. Propertymark members can take advantage of several AML resources and also book an AML Health Check to make sure that their staff and business are fully AML compliant.