Why going above and beyond Anti-Money Laundering requirements shows the benefits of using a trusted estate agent
- 21st March 2019
- Landlord Property News
ludlowthompson’s duty of care means both landlords and tenants have peace of mind going forward
ludlowthompson carries out Anti-Money Laundering (AML) checks through Creditsafe on all tenants who will be paying up front. This is despite it only being a requirement for AML checks to be done on all transactions of £10,000 a month or more. Ludlowthompson also conducts an AML check through Creditsafe on all landlords.
Going beyond the minimum and performing AML checks when not legally necessary, provides reassurance to both landlords and tenants about the property transactions they are involved with.
ludlowthompson believes the property transaction size alone is not a good enough indicator of potential risk and takes additional steps to reduce risks for landlords and tenants.
For landlords, ludlowthompson ensures all necessary documentation of the potential tenancy is collected. This ensures there is no concern over the validity of the tenant.
For tenants, ludlowthompson also ensures all Land Registry documents and ID is taken from landlords at the very beginning to confirm they own the property and have the right to rent it.
Conducting these checks eliminates any potential fraud, such as adverts for properties that are already rented out, by a scammer posing as the landlord.
Stephen Ludlow, Chairman of ludlowthompson, comments: “We’re careful to put in place processes that mean both landlords and tenants can have peace of mind that there will be no nasty surprises.”
“Using an estate agent they trust and they know has gone through all the legal hoops reassures landlords that their investment will be hassle free.”
Here is a selection of recent reviews from happy customers of ludlowthompson via Google:
- David Eden on Google Reviews
Daniela Gomes, lettings manager, has provided exemplary service in re-letting my Finsbury Park flat in quick time, as well as assisting with the previous renewal. Service levels worth coming back for. Top marks.
- Jack Tyler on Google Reviews
I gave my property to Ludlow Thompson to market and was very impressed with the way in which they handled the process. The manager (Tom) was very helpful and in constant contact, which was reassuring. The other staff were also helpful and friendly. I would recommend this branch to landlords in the area.
ludlowthompson maintains its transparency by encouraging customer reviews across a number of platforms. Over a three-year period, we ranked number 1 agent in the UK on allAgents out of 15,000+ agents, with 5300+ 5* reviews.
“We’re careful to put in place processes that mean both landlords and tenants can have peace of mind that there will be no nasty surprises.”
FREE & INSTANT PROPERTY VALUATION
IN JUST 60 SECONDS