Our Compliance Documents

Why should you care?

It is important for us to display our compliance documents to show that we are accredited to be offering the services that we do. As a client, you need to be sure that you use services from a licensed agent who is backed up by the appropriate authorities. By displaying our certificates you can rest assured, using our services, that we are fully registered with all appropriate authorities.

If you have any questions about our accreditation, our fees or our complaints procedure then please don't hesitate to get in touch.

Client Money Protection (CMP)

The Propertymark Conduct and Membership Rules can be found here: www.propertymark.co.uk/professional-standards/rules.html#obligations.

The Property Ombudsman (TPO)

Our membership number for TPOS is L850. You can search our membership in the event of wanting to make a formal complaint about our services here.

Deposit Protection Service (DPS)

We are members of the Deposit Protection Service (DPS), our membership ID is 1363994. You can check to see if your deposit is properly protected by following this link.

Tenancy Deposit Scheme (TDS)

We are members of the Tenancy Deposit Scheme (TDS), our membership number is EW100270. You can check to see if your deposit is properly protected by following this link.

Anti Money Laundering (AML) Policy

I. Introduction

Synergy Forward Limited t/a Ultralets is committed to complying with all applicable Anti-Money Laundering (AML) and Counter-Terrorist Financing (CFT) legislation, including the Money Laundering Regulations 2017 and the Terrorism Act 2000. This policy outlines our procedures for preventing and detecting money laundering activities.

II. Scope of Policy

This policy applies to all customers, including but not limited to:

Customers making purchases in any currency (including cryptocurrencies)
Users registering for accounts
Users engaging in any financial transactions

III. Definitions

Money laundering: The process of making illegally obtained funds appear legitimate.
Terrorist financing: Providing or collecting funds to support terrorist activities.
Know Your Customer (KYC): The process of verifying the identity and background of customers.
Customer Due Diligence (CDD): The process of gathering and analysing information about customers to assess their money laundering and terrorist financing risks.
Suspicious Activity Report (SAR): A report filed with authorities about suspected money laundering or terrorist financing activity.

IV. Customer Due Diligence (CDD)

We conduct CDD on all users based on the Money Laundering Regulations 2017 and the Financial Conduct Authority's (FCA) guidance. This may include:

Identity verification: Verifying your name, address, date of birth, and other relevant information using government-issued documents or other reliable methods.
Enhanced due diligence: Conducting additional CDD for high-risk customers or transactions based on certain factors, such as:

Transactions exceeding £15,000 in cash equivalent.
Transactions involving politically exposed persons (PEPs) or high-risk countries.
Transactions with unusual patterns or characteristics.

Transactions that are inconsistent with the customer's known profile.

V. Transaction Monitoring

We monitor transactions for suspicious activity that may indicate money laundering or terrorist financing, in accordance with the Treasury's Red Flag Indicators. This may include:

Transactions exceeding certain thresholds.
Transactions involving high-risk countries or customers.
Transactions with unusual patterns or characteristics.
Transactions that are inconsistent with the customer's known profile.

VI. Reporting Suspicious Activity

If we suspect money laundering or terrorist financing activity, we will file a Suspicious Activity Report (SAR) with the UK Financial Intelligence Unit (FIU). We will also take appropriate steps to protect ourselves and our users from the risks associated with such activity.

VII. Data Protection

We collect and store user data in accordance with the General Data Protection Regulation (GDPR) and the Data Protection Act 2018. We will only share user data with authorities as required by law. Find out more in our privacy policy.

VIII. Training and Awareness

We train our employees on AML and CFT risks and procedures in accordance with the FCA's guidance. We also raise awareness among our users about the importance of preventing money laundering and terrorist financing.

IX. Review and Update

We will review and update this policy regularly to ensure it remains compliant with applicable legislation and best practices.

X. Contact Information

If you have any questions about this policy, please contact us at hello@ultralets.co.uk

Cyber Essentials

We have received the Cyber Essentials accreditation, demonstrating our commitment to providing a secure digital environment for our clients. Click the logo bellow to view our certificate:

Our charges
The following prices apply to Residential and Commercial property management and letting services. We are required by law to display all of our prices inclusive of VAT.

Comprehensive full management & lettings service
Letting Fee: £360.00 INC VAT (Payable when let and re-let)
Monthly Management Fee: 12% INC VAT (10% +VAT) on a portfolio between 1 and 4 properties. 10.8% INC VAT (9% +VAT) on a portfolio between 5 and 9 properties. 9.6% INC VAT (8% +VAT) on a portfolio of 10 or more properties. (Subject to a minimum of £44.40 INC VAT)

Let only service
£600.00 INC VAT (50% due at point of marketing, remainder payable at the start of the tenancy)

Other charges to landlords

Annual Gas Safety Certificate: £72.00 INC VAT
Smoke alarms supplied and installed: £60.00 INC VAT per unit
Carbon monoxide alarms supplied and installed: £50.00 INC VAT per unit
Electrical Safety Test (EICR Test): From £100.00 INC VAT
Energy Performance Certificate (EPC): From £96 INC VAT
Oil Fuelled Boiler Service: £108.00 INC VAT per hour
Legionnaires Risk Assessment: £66.00 INC VAT
Ultralets employed tradespeople will be charged at £36.00 INC VAT p/h + Materials
The organisation of property maintenance through a third party contractor: 12% INC VAT of the invoice (Subject to a minimum of £12.00 INC VAT and a maximum of £120.00 INC VAT per job)
Full refurbishment project management: 12% INC VAT of the total quote.
Reinstating utilities at a property £60.00 INC VAT per utility + Cost of credit on prepayment meters (If required)
Service of section 13 notice to increase rent £60.00 INC VAT
Installation of a ‘To Let’ V-board at £150 INC VAT
Property sourcing 1.8% INC VAT with a minimum of £1,800.00 INC VAT
Sales fee 1.8% INC VAT with a minimum of £1,800.00 INC VAT

Charges to tenants

Key deposits: £20.00 per key (To be collected from the office with 2 hours notice)
Attending to give access to property (24Hrs): £40.00 INC VAT (Payable on attendance)
Amending or renewing a tenancy agreement: £48.00 INC VAT
Application holding deposit: Equivalent to 1-week rent held for up to 14 days & deducted from the deposit paid on move-in.
5-week deposit payable in addition to the first month's rent on or before the day you move in.

Referral fees

Occasionally, Ultralets may refer certain business to our trusted third-party providers. It is important to note that when a referral occurs, it is still completely your choice as to whether or not you proceed with those providers. Please see a list of our referral fees below:

Sales referral fees:

During the initial fact-finding of the sales process, we may determine that your property/portfolio is better suited to be sold through a channel outside our investment network. In these instances, we may refer you to a third-party, local, agent. Similarly, when instructing a solicitor we have trusted third-party businesses that we may refer you to.

Riverside Estate Agents - 20% of their total fee
Our House Estate Agents - 20% of their total fee
James Legal Solicitors - £100 + VAT per referral
Gunnercooke Solicitors - £100 + VAT per referral
Pattinsons Auctions - £2,500 + VAT per property we pass to them

Insurance referral fees

During your journey using our insurance services, we may determine that you are better suited to a policy that is available with another provider. In these instances, we may refer you to one of the below, trusted, third-party providers:

The Source - 27.5% of their deal value
Higos - 15% of their deal value
HL Wills - £30 per Will

Agent switch exit fees policy

If you're switching to Ultralets from another agent, you may request for your exit fees to be paid for by Ultralets with the following conditions:

Exit fees need to be requested prior to signing Ultralets Terms of Business
At the point of requesting the exit fees, disclosure of the full amount needs to be provided to Ultralets in writing
Should Ultralets deem the exit fee penalties to be unviable, then Ultralets reserve the right to negotiate either with the Agent or negotiate with the potential client to find a workable solution
In the event that a workable solution is not achievable, then Ultralets reserves the right to withdraw this offer
Once an agreed solution has been agreed, both the potential client and Ultralets shall agree the terms in writing, prior to the signing of Ultralets Terms of Engagement
The terms of this offer are made entirely at the discretion of the Lettings Manager, who has the right not to provide, or the option to withdraw the option at any point prior to the signing of Ultralets Terms of Engagement.
The exit fees will only be paid directly to the Agent who previously managed the property. However, if you require them to be paid to you directly, proof will be required to show that you have already paid them to your previous Letting Agent. Any attached files will need to be in pdf format

Our complaints procedures

If you have used our lettings/management services and wish to make a complaint, you can view the procedure here.

If you have purchased insurance through Ultralets and wish to make a complaint, you can view the procedure here.