New Legally Required Document Updates - May 2024

May 23, 2024
Property Sourcer Legally Required Documents - May 2024 Updates

As any of of customers will know, we are constantly reviewing regulations and legislation, as well as HMRC's interpretation of these so that we can keep our legally required documents - and property sourcers - up to date on the latest changes. 

This does take time, as we not only need to assess each document - currently 12x legally required documents - to make sure each remain fit for purpose. 

If any changes are needed, we make the edits, create a default template for all sourcing agents to use, then record a training video so you understand what the document is about and what you need to change. 


May 2024 Updates

This month is no different. We have just made a big update to three legally required sourcer documents: 


AML Policy


AML Seller - Trust - Control & Procedure


AML Investors - Individual - Control & Procedure



Do I Need to Have These?

In short, yes. If you are a deal sourcer, deal packager, property sourcer - or any one who sources a deal for an investor.

These are all legally required documents that HMRC's AML Team would expect to see if they carried out an inspection on your business. Not only that, they would expect to see knowledge and understanding of how you use these documents in your business day to day. 

Now we're not intending to scare you, if you don't have these. Adding these (and all other documents) doesn't have to be the krypton factor - it's just a new process to learn and get used to whenever you work with a new investor. 


I've Already Completed PSC's Document Course

Fantastic! If you're within the 12 months of purchasing our course you will have already received an alert to update these three documents. 

If you fall outside the 12 month period - please also do not worry. We will be in touch in the next week or so with an exclusive offer to start an annual subscription to keep your documents updated each year. 



How Do I Get The Updated Documents?

We provide a fully online course where you can download all of the templates and watch accompanying training videos for each - created and record by property sourcer and compliance expert, Tina Walsh. 

The Legally Required Documents course is £795

If you're looking to get all of your training ticked off, we would recommend our Complete Property Sourcing Programme - currently £1,596 down to just £1,198