Rented Housing: Money Laundering
The question
To ask the Chancellor of the Exchequer, what estimate she has make of the potential impact of the requirement for letting agents to carry out money laundering checks on landlords and tenants on the number of rental properties available.
Answered by Lucy Rigby
The impact of compliance with the Money Laundering Regulations (MLRs) for letting agents was assessed as part of the Impact Assessment for the Money Laundering and Terrorist Financing (Amendment) Regulations 2019, which brought certain letting agents into scope of the MLRs. This is available here: https://www.legislation.gov.uk/uksi/2019/1511/impacts
The Government keeps the MLRs under review in order to ensure the requirements remain effective and proportionate for all regulated sectors, including letting agents.
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