Premier Locations Informs You of Up-To-Date Compliance and Regulation Information
Compliance with Data Protection
It’s important to note that the Premier Locations branch you are engaging with operates either as a subsidiary of Premier Locations Property Limited or as a franchisee of Premier Locations Franchising Limited (“they”). As such, they share joint data controller responsibilities and have access to the data you provide. For a comprehensive understanding of how your data is processed, please refer to our Privacy Policy.
Dual Fees and Previous Agent Agreement Review
If you have engaged another agent on a sole agency or sole selling rights agency basis, it’s essential to review the terms of those agreements to avoid potential liability for dual commissions. Providing a copy of any current or past agent’s agreement to the valuer allows for appropriate advice. Failure to provide this may hinder our ability to advise on potential breaches of other agent agreements.
Energy Performance Certificates (EPCs)
Under The Energy Performance of Buildings (England and Wales) Regulations 2012, EPCs are mandatory whenever a property is sold or rented. These certificates, provided by accredited Domestic Energy Assessors (DEAs), offer an energy efficiency rating ranging from A to G, valid for 10 years. EPCs also offer insights into energy usage, costs, and environmental impact. It is the responsibility of the relevant party (seller, prospective landlord, or constructor) to ensure the property has a valid EPC when marketed. Failure to do so requires commissioning a new EPC before marketing the property.
Properties Not Yet Constructed
For properties being sold before construction completion, a Predicted Energy Assessment (PEA) is required under The Energy Performance of Buildings (England and Wales) Regulations 2012. This assessment, conducted by accredited On Construction Domestic Energy Assessors (OCDEAs), predicts the building’s energy efficiency based on Standard Assessment Procedure (SAP) calculations. Upon completion, a full Energy Performance Certificate must be obtained to validate the predicted energy assessment and facilitate building sign-off by Building Control.
Compliance with Money Laundering Regulations
When utilizing Premier Locations services, due diligence is conducted to confirm your identity as per the Money Laundering Regulations 2017. This information is processed solely by Premier Locations and their staff to ensure compliance and is shared with your appointed Conveyancing Lawyer. For sellers, identity and residency status checks are conducted upon signing an Agency Agreement. For buyers, these checks occur upon offer acceptance before the production of a Memorandum of Sale.
The Fifth Money Laundering Directive (5MLD)
Implemented in the UK on January 10, 2020, the Fifth Money Laundering Directive (5MLD) extends the Money Laundering Regulations to include letting agents for the first time. This requires assessing certain tenancy agreements for potential money laundering risks. Tenancies with rents exceeding €10,000 per calendar month fall under the regulations, necessitating “Know Your Customer” checks on landlords and tenants. Continuous monitoring ensures initial risk assessments remain valid throughout the business relationship. Landlords and tenants subject to these regulations should anticipate additional administrative requirements.
Compliance when Using Electronic Verification Services
Some of the Premier Locations branches utilize an online electronic verification service to conduct identity and Anti Money Laundering (AML) checks. This system allows us to verify your identity based on basic details using electronic data. It’s important to note that this process is not a credit check and will not impact your credit history. By engaging with Premier Locations, you consent to a search with Smart Search for identity verification purposes. Smart Search may cross-reference the details you provide against various databases, public or otherwise, to which they have access. Additionally, your details may be used for verification purposes by other companies in the future. A record of this search will be retained for 5 years to comply with regulations.
Transparency with Referral Fee Disclosure
Premier Locations recommends the services of carefully selected third-party providers and may receive a referral fee for introducing customers to these providers. To obtain information about the referral fee amounts, please inquire directly with the branch or review the Supplier List on their branch page. However, it’s important to note that customers are under no obligation to use the services of these recommended providers. Referral fees contribute to business investment aimed at providing competitive pricing, improving productivity, and enhancing transparency. Both Premier Locations staff and partner suppliers work diligently to ensure customers consistently receive exceptional service and desired outcomes.
Transparency on “Mark Up” Fees
The Third-Party Supplier and Referral Fee Disclosure List and/or the Landlord Price List displayed on branch pages are not exhaustive. If customers engage designated contractors or third-party suppliers through Premier Locations, a fee may be charged, ranging from 1% to 50% on top of the contractor’s price. Details of these fees are available upon request before proceeding. Additionally, Premier Locations may earn a small profit on products or services purchased in bulk, but this does not affect the price for customers purchasing directly from the supplier.
Confirmation of TPO Membership Status
Premier Locations is a member of The Property Ombudsman Scheme for Estate Agents (TPOS), a leading regulatory body in the industry. TPOS offers a free, fair, and independent service for resolving any disputes between customers and estate agents.
Financial Services Mortgage Advice
Customers should be aware that some Premier Locations branches utilize Embrace Financial Services Ltd for mortgage and protection advice. Embrace Financial Services typically charges a fee for mortgage advice, which will be discussed and agreed upon based on individual circumstances. Embrace Financial Services Ltd is an Appointed Representative of PRIMIS Mortgage Network, authorized and regulated by the Financial Conduct Authority for mortgages, protection insurance, and general insurance products. The guidance and/or advice provided are subject to the UK regulatory regime and primarily targeted at UK consumers.
Mortgage Gym Online Service
Premier Locations’ website offers access to an online mortgage service provided by Mortgage Gym, a trading style of Embrace Financial Services Ltd. Embrace Financial Services Ltd is an Appointed Representative of PRIMIS Mortgage Network, authorized and regulated by the Financial Conduct Authority. Customers should review the Mortgage Gym Privacy Policy for more information.