Published: 29/01/2018 Last Updated: 29/01/2018 09:54:14 Tags: Anti-Money Laundering
Estate Agents are subject to and are obliged by law to comply with The Money Laundering, Terrorist Financing and Transfer of Funds (Information on the Payer) Regulations 2017 known as The Money Laundering Regulations 2017 which came in to force on 26th June 2017.
Whether you are looking to buy, sell, let or rent a property we are obliged to ask you for proof of identity and proof of address. There is no need for concern; money laundering is where criminally obtained money or assets are exchanged for “clean” money and property transactions are notorious for this type of activity. We are therefore required to have anti money laundering systems in place which are clearly set out by HMRC, with whom Malverns is registered.
We require sight of all original ID documents in the presence of the document holder OR alternatively copies certified by an individual from a recognisable profession such as doctor, teacher, solicitor etc., the copy to contain the details of the individual certifying it.
With regards to Rentals, new rules introduced in 2016 mean that Landlords need to carry out a quick and simple check on all tenants to make sure that they have the right to rent property in the UK. Right to Rent was introduced in the Immigration Act 2014 and also applies to lodgers and sub-tenants. Landlords who fail to carry out checks risk a penalty of up to £3000.
These are the four checks –
1. Check which adults will use the property as their main or only home
2. See original versions of one or more acceptable documents for all tenants
3. Check the documents in the presence of the document holder
4. Make copies of the documents to be retained in a safe and secure place. Record the date the check was made.
Malverns will of course ensure that this process is correctly carried out on your behalf.
If you would like to know a little bit more about the any of the new regulations please feel free to pop in to the office or call. Alexander Leon, head of sales, is our anti money laundering officer and he makes sure that we are completely up to date.
You will be in safe hands with Malverns!
Published: 25/01/2018 Last Updated: 25/01/2018 12:56:40 Tags: Alfies View
Do you know the Selkirk Grace?
Do you know Address to a Haggis?
Today is traditionally known as Burns Night; this is the celebration of the life of the Scottish poet Robert Burns. Robert Burns was born 25th January 1759 and wrote his first poem at the age of 15. He sadly died at just 37years but wrote a catalogue of poetry. The most famous being Auld Lang Syne.
Do look up the wonderful work that he created and do try your haggis with neaps and tatties.
Some hae meat an canna eat,
And some wad eat that want it;
But we hae meat, and we can eat,
And sae the Lord be thankit.
Published: 15/01/2018 Last Updated: 15/01/2018 11:10:24 Tags: Alfies View - Great Service From Malverns
Published: 12/01/2018 Last Updated: 12/01/2018 14:49:02 Tags: Alfies View
We are pleased to say that others evidently feel the same way and we have already had some very positive viewings of properties that we have on our website with an increase in enquiries for both sales and rentals and the outlook is good. The market is still slow but our clients are taking our advice that prices need to be realistic and properties presented in excellent order to attract the discerning applicant.
It is also the time of year to head to the slopes and there we can help you too – we have some very lovely ski chalets in Switzerland to rent and to buy – so get your skis on!
The team at Malverns would like to wish everyone a very Happy New Year and hope you all had a good Christmas.
We are all refreshed and looking forward to 2018.
If you look on our website (www.malverns.co.uk ) you will see that we have a great range of properties for Sale and for Rent.
The door is always open so do pop in.
Published: 21/12/2017 Last Updated: 21/12/2017 12:56:18 Tags: Alfie
Malverns would like to wish everyone a very Happy Christmas and looking forward to catching up in the New Year.
David Fox, a wizard of a magician, worked his magic and entertained everyone brilliantly. Our chosen charity this year was The Great Ormond Street Hospital and everyone gave extremely generously to the raffle for which many thanks.
On a more serious note, the market is still extremely difficult but both our sales and rentals teams are working hard to finalise deals in the run up to Christmas; and as you will see from our web-site Malverns has gone International! Check out our properties in Holland, Spain and France.
Published: 07/11/2017 Last Updated: 07/11/2017 16:13:05 Tags: Alfies View 7Th November 2017
The current London lettings market is gently ticking over after a busy end to the summer, we still have applicants searching so do let us know about your property if you are wanting to rent it out.
The sales market is still being held by the high cost of Stamp Duty tax but we have properties under offer with some great new ones coming to the market.
Weekends are spent relaxing with the family at home on the Isle of Wight and the week in London catching up with old friends be it over a pint at Lords or keeping an eye on the culinary scene.
We are sad to say that Nigel has left Malverns to pursue interests outside estate agency, in particular to promote his Simply Sicilian venture involving the sale of delicious foodie bits from Sicily. He has been Head of Sales at Malverns for almost 3 years and in Agency for over 30 years. We will miss him and his fabulous sense of humour which has kept us smiling throughout the trials and tribulations of the London property market and the political scene!
We are however delighted to welcome Nigel's replacement, Alexander Leon, who will be starting at Malverns on 7th August and we look forward to introducing him to you if you require any sales advice or FREE valuation. Alexander is extremely experienced in the industry having set up and run the sales department in various companies in Central London. We have no doubt that he will be a great success.
How lovely to see the daffodils out and feel a bit of sunshine on our backs! Having just left a freezing New York, where temperatures plummeted to -12 while I was there, I am probably appreciating the warm snap more than most! The good news for us here at Malverns is that with the warm weather, flowers in the garden and sunshine, come increased levels of activity, sales and rentals and a flurry of people wanting to move by the Summer. We have already noticed the phones starting to ring and leads coming through our network of property portals, which is encouraging to say the least. The next step is to turn the activity into solid business, and progress those sales and rentals through to a speedy completion. Here at Malverns we pride ourselves in the fact that we lose very few deals once tied up. We believe that the sale or let is only 10% complete at the point of offer and the hard work starts when we deal with the solicitors, surveyors and other agents, trying to make the deal happen. Our professionalism at this stage is what sets us apart from the rest, ensuring that all the documents are where they should be and that people know what they should be doing at what time. You can rest assured when you instruct Malverns that we offer the complete service, from the initial viewing to enjoying that celebratory glass of Champagne when you move in. Call us now to discuss our Summer rates and our offer of a FREE MARKET VALUATION.
Oh and don't forget to tune in or record our very own Head of Rentals, RIA GEERLING, appearing on HOMES UNDER THE HAMMER on Thursday 16th March..
There is never a dull moment in Malverns Estate Agents! What a wonderful weekend it was for Nigel, who celebrated the arrival of his first granddaughter, a beautiful little girl called Olivia. Not such good news for Niki though, who found herself in hospital over the weekend. I know the staff will all join me in wishing her a speedy recovery and hoping that it's only a matter of time before she's back in the saddle again and of course in the office with the team. The market continues to surprise everybody, with some last minute sales being put together, although the rental side is very quiet as we approach the festive period. Here at Malverns we are convinced that the spike in sales is due in part to the lower value of the pound against other currencies. A number of foreign investors, as well as some bullish British buyers have shown that even with a new regime in the USA and an uncertain future in the UK, they are still prepared to invest in what historically has always been a solid property market. we will continue to keep you posted with market developments as the year ends and we move into 2017.
Whether you are a sports fan or not, you cannot fail to be impressed by the amazing achievements of our fabulous Olympians! Right up there with the USA and ahead of China in the medal table is simply sensational! It's even taken away from the other main event that has been happening and is a favourite of mine... the Westie Olympics! The dogs compete in sprints such as the 'Paw hundred metres' and the Paw by Paw relay... not to mention the singles and pairs water ski-ing (pictured!).
It's not to late to take advantage of our huge discounts being offered to any vendor instructing Malverns to sell their property, throughout the Olympics. Talk to Nigel or Niki on sales and Ria if you want to rent or let your home, or simply pop in for a friendly welcome from us all.
Published: 08/08/2016 Last Updated: 01/09/2016 14:36:09 Tags: Alfies View
Published: 29/07/2016 Last Updated: 01/09/2016 14:27:10 Tags: Alfies View
As Alfie is away on holiday at the moment, it has fallen on Nigels shoulders to give us Malverns take on the current political and economic situation in the UK and the way we envisage it affecting the London property market:
MALVERNS & BREXIT
Those of us in the London property market had been anxiously awaiting the results of the Brexit referendum, as the lead up period had been full of uncertainty, resulting in lower transaction volume. With the 24th June 2016 vote to leave the European Union, unfortunately, surety has not been restored and many are wondering what this means for United Kingdom, and the London property market.
The results of the vote triggered an immediate reaction in the financial and currency markets, with the pound plummeting to a 31-year low against the US dollar. The FTSE opened with a fall of 8.7% (although recovered) and both house building and banking shares were amongst those hardest hit.
Even with the initial response being very dramatic, agreeing the terms of the exit from the EU could take up to two years to negotiate (from the time Article 50 is invoked) which could mean many more months of uncertainty.
The capital has been an area of prime real estate for a number of years, so as the hub of property investment, both for the UK and foreign investors, the London property market could suffer significantly. Over the last few months, we’ve already seen property sales volume decline ahead of the referendum and on the back of recent stamp duty increases. Given the capital’s links to the financial sector, rental rates may also be adversely impacted as nervousness in the financial sector and potential job transfers may impact rental demand.
However, in the midst of the many dire scenarios, there will always be opportunities. Seasoned investors have often secured their best deals during times of turmoil. With the sterling’s recent decline of over 10% (relative to USD) it has not only offset recent stamp duty increases, but may also cover any potential reductions on lower rents, good news for foreign investors. For those with a long term view, buying property is still a good investment, particularly when compared to alternative investment options.
For some sellers, we have had to have the difficult conversation of price reductions, but we’ve also successfully completed sales transactions, so deals are being done. For those sellers who have owned their properties for a long time, prices in London are still well in excess of the low points of 2007 and 2008, meaning that they are likely to be selling at a profit. But now more than ever, it is important to price to the market and being armed with the latest data and information is critical. In addition, with interest rates that are still historically low, first time buyers may also have a unique opportunity to get on the property ladder.
Only time will tell what the long term landscape of United Kingdom outside the EU looks like, but for London, the fundamentals remain compelling:
• Significant shortage of housing relative to supply
• Stable regulatory and legal system
• World class education and cultural institutions.
With a long term strategy, the London property market will continue to be a sound investment.
Property buyers and sellers should consider the facts and make decisions based on reality, not fear or misconceptions. Those who will need to move will still do so and those needing shelter will still look to buy or rent. It is easy to make a good investment in times of stability and upward trends, but more challenging in times of turmoil and uncertainty. However, given the historical returns of the property market, it is still a worthy consideration.
If you are concerned about your property investments or would like to discuss the Brexit effect, please contact us for a free consultation
Published: 25/06/2016 Last Updated: 01/09/2016 14:27:56 Tags: Alfies View
Published: 24/06/2016 Last Updated: 01/09/2016 14:27:26 Tags: Alfies View
Published: 23/06/2016 Last Updated: 01/09/2016 14:27:23 Tags: Alfies View
Published: 22/06/2016 Last Updated: 01/09/2016 14:27:17 Tags: Alfies View
Published: 19/05/2016 Last Updated: 01/09/2016 14:19:48 Tags: Alfies View,
Published: 09/05/2016 Last Updated: 01/09/2016 14:23:11 Tags: Alfies View
Well Spring certainly arrived with a bang! What a fantastic weekend. I was fortunate enough to be taken to Marlow in Bucks, for a walk through the bluebells and with temperatures hitting 27 degrees, it really was glorious! Hopefully the good weather will have the usual effect on the property market and the team will notice a surge of buyers and tenants! Ria, Niki and Nigel would love to see you for a coffee in the office and to discuss any property queries you may have.
Published: 21/04/2016 Last Updated: 01/09/2016 14:59:40 Tags: Alfies View
Published: 14/04/2016 Last Updated: 01/09/2016 14:59:48 Tags: Alfies View
Published: 07/04/2016 Last Updated: 01/09/2016 14:35:49 Tags: Alfies View
Published: 04/04/2016 Last Updated: 01/09/2016 14:35:43 Tags: Alfies View
Published: 15/03/2016 Last Updated: 01/09/2016 14:24:25 Tags: Alfies View
We are delighted to be sponsoring Nigel's daughter Jess, in her first ever London Marathon on April 24th. She will be wearing the Malverns colours as well as those of the Katie Piper Foundation, the Charity Jess is raising money for. We are hoping to help her raise her target of £3000, with a little bit of help from our loyal friends and customers. She is already half way towards her target and we believe that with a little push and some small donations from malverns clients, we can push her over the target. Katie Piper is a Charity that raises awareness and money for burns victims as well as acid attack victims. Please give generously if at all possible. https://justgiving.com/jesshumphriss
Published: 22/02/2016 Last Updated: 01/09/2016 14:36:16 Tags: Alfies View
Published: 05/01/2016 Last Updated: 01/09/2016 14:33:30 Tags: Alfies View