Opinions sought on new money-laundering rules for high-end letting agents
The EU's Fifth Money Laundering Directive is slated to come into play in January, requiring UK letting agents dealing in rents above €10k per month to carry out AML checks on their clients. A Government consultation has been launched to assess what impact this might have on the industry
What to read next
Select Committee flags five money laundering loopholes
160 properties worth over £4bn have been 'identified as being purchased by high corruption-risk individuals', reports the Joint Committee on the Draft Registration of Overseas Entities Bill
By PrimeResi
Flag It Up: Government extends ‘dirty money’ campaign to target estate agents
Tie-up with the RICS and the NAEA aims to 'help agents spot the signs of money laundering and reinforce their legal and moral obligations to report suspicious activity'
By PrimeResi
Half of top-end estate agents are flouting AML rules – official report
50% of estate agencies advertising properties for sale at £5 million are either not registered for anti money laundering supervision with HMRC, or have failed to pay their annual fee, according to a new…
Most read
UK Sotheby’s adds new directors covering PCL & West London
Luxury brokerage extends recruitment drive across prime postcodes with brace of sales appointments.
‘Buyers today have more choice than ever before’: Savills global resi chief on the battle for international wealth
Interview: Victoria Garrett discusses London’s place on the world stage, Dubai’s next phase, the impact of tax & geopolitics, and how developers are catering to an increasingly discerning clientele.
New platform opens door to distressed property deals
Exclusive: Receiv-r promises an early heads-up on property and land opps - and already has a big-name brokerage on board.
Where did the Knightsbridge buyer go? James Moran on PCL’s shifting geography
Middleton Advisors' London sales boss explores the changing fortunes of one of the capital’s most famous enclaves - and where today’s moneyed purchasers have been turning their attention.
By James Moran
£37.5mn Banda-designed super-duplex unveiled at The OWO
In Pictures: Top-end studio delivers 3,804 sq ft heritage-inspired residence at luxury Raffles-branded scheme in Whitehall.
Investor snaps up nine Notting Hill flats in £11mn bulk deal
Agents flag renewed appetite for bulk resi acquisitions from overseas investors as prime London rents climb.
By PrimeResi
Government ramps up plans to regulate property agents
Update Industry Reactions: Ministers unveil licensing regime and independent regulator, going much further than proposals announced last year.
In Pictures: Historic Cotswold estate hits the market at £15mn
Substantial pile with Sims Hilditch interiors and a party barn launches with autumn selling season in full swing.
‘First hard evidence’ emerges of £2mn mansion tax effect on property prices
Fresh data confirms that transactions are 'bunching' below the incoming High Value Council Tax Surcharge threshold.
By PrimeResi
Alexander Main brings in senior hire for big lettings push
Former Domus Nova & Foxtons operator joins line-up to lead ambitious two-year-old agency’s new division.
LATEST ARTICLES
The $84trn Question: Which global hotspots are leading the race for next-gen wealth?
London ranks third in new Savills study of the locations best placed to attract and retain younger HNWIs, as vast wealth shifts across borders and generations.
Grand Registry: Surveying the latest big-ticket deals to hit the official record
Land Registry data reveals a telling resale at one of Kensington’s most prestigious schemes, alongside a clutch of eight-figure deals across the capital.
Building Safety Levy goes live, with highest rates in prime London
Developers face new charge from today as Government begins £3.4bn drive to fund building safety works.
Aston Martin & Mouawad schemes help drive 66% revenue jump at Dar Global
London-listed luxury developer more than doubles first-half profits as portfolio GDV hits $23bn.
My Property Career: Quickfire Q&A with Jane Cronwright-Brown
Recruitment guru Barry Collins chats with prime resi industry leaders & entrepreneurs, distilling decades of experience & career highlights into 60 seconds.