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Compliance Made Simple

With Our Complete Property Sourcing Course

 

Teaching You How to Source is Easy. Understanding Compliance is What Will Really Put You Ahead.

Our fully online course will provide you will all of the knowledge you need to run a professional and successful sourcing business. 

Compliance doesn't need to be complicated and we've broken everything down into bitesize modules taking you through the sourcing process step-by-step with expert video training.  

Let's Start My Business Today

"Thank you so much for setting up this essential course for Deal Sourcing"

Michelle Houldershaw

"This has been a real eye-opener on what it really takes to be a Sourcing Agent."

Daniel Hopgood

Learn From Industry Experts

We Wrote the Code of Practice For the Sourcing Sector, approved and followed by both Property Redress Schemes

 

Through the National Association - NAPSA - Tina Walsh and the team wrote the Code of Practice that defines compliance for our sector. 

With 12 years+ sourcing experience, direct communication with HMRC's AML Team, NTSLEAT (Trading Standards), and working in direct partnership with both property redress schemes, Tina and the Team are the first and best in the know of any legislation changes to keep your business covered. 

We can advise you honestly and confidently on how you can protect your sourcing business. 

 

Get Started Today

How Much Does it Cost to Set Up a Compliant Sourcing Business?

Based on legally required and essential training, documents, registrations and insurance we would say:

 

Approx. £2,300

 

We can't guarantee what the cost will be as insurance and registrations vary dependent on your business size and services. 

However, please make sure you can afford to do everything before you start, otherwise you'll just end up wasting your hard-earned cash. 

More on Costs

Are You Serious About Sourcing?

 

We are not about rushing sourcers through the door in mass numbers, there are plenty of other providers doing this.

Instead, we want to work with people who looking to build professional and long lasting businesses and make a difference.

In return, we will share our expert knowledge, guide you through set up, and provide 1:1 support - all so you can feel confident in the business you'll be running. 

 

Yes I'm Serious - Let's Go

How Much Does It Cost to Set Up a

UK Sourcing Business Compliantly?

Based on training, documents, registrations and insurance we would say:

Approx. £2,300

Please make sure you can afford to do everything before you start, otherwise you'll just end up wasting your hard-earned cash. 

Are You Serious About Sourcing?

We are not about rushing sourcers through the door in mass numbers, there are plenty of other providers doing this.

Instead, we want to work with people who looking to build professional and long lasting businesses, that are serious about sourcing and want to make a difference.

In return, we will share our expert knowledge, guide you through set up, and provide 1:1 support - all so you can feel confident in the business you'll be running. 

 

I'm Serious - Let's Go

What's Included in Our Complete Sourcing Programme?

We've created an easy, cost-effective process for learning and setting up your property sourcer or deal packaging business

Introduction to Sourcing

Understand the role of a sourcing agent, the costs, time commitments and regulations that govern your business.

 

Data Protection Training

Our course is short, to the point and unlike many others out there, it's tailored specifically for your sourcing business. 

Anti-Money Laundering Training

HMRC are fining agents for not understand AML policies. Make sure your business doesn't fall foul of their fines with our unique online course.

Day to Day Sourcing

From marketing your business, onboarding an investor, securing a seller, through to completing a deal. What order do you share documents, complete AML procedures.

What questions should you be asking your investors? This course will teach you it all and more. 

 

Legally Required Documents

Worth more than £5k alone! We have spent 12+ years' refining these documents to be the best in the sector. 

We know this as we moderate documents through the National Association from many different providers. 

You won't find NDAs on our course. Our Terms of Business template will protect your business and make sure you get paid!

NAPSA Membership

The National Association is the only place you can receive 1:1 support to review all of your compliance and make sure you're operating as you should be. 

Plus advertise your business to searching investors at no additional cost (think Trust a Trader!). 

We've included this in the course, so that you don't feel left alone, not knowing what to do next. We support and guide you to make sure everything you've learned and set up works to create a successful business for you (worth £234)

We Don't Include Insurance and Registrations...Why?

Having these 'done for you' as part of a package sounds ideal. However, it could well come at a hefty price in the long run...

Find Out More

Complete Sourcing Programme

£1,198

Access All Training Online Today

Normally £1,568, save £370 by purchasing all training in one go and get more than £5k worth of value in documents and training + NAPSA Membership

 

Hurry! We will be adding VAT to our courses very soon. 

BUY NOW

Pay As You Go

£234 Today

Prefer to pay for training as you go?

Instead of a payment plan, we offer you an alternative route: 

Join NAPSA first and access 25% discount on all of our courses.

NAPSA Membership - £234 (incl. VAT)

Data Protection & AML: £71.25

Day to Day Sourcing: £296.25

Legally Required Documents: £596.25

Total: £1,197.75

START TODAY

Why We Don't Include Insurance and Registrations.

It might seem easier having someone else complete your insurance and registrations for you - we know how complicated it can be - however we've had many examples recently where people enquired with NAPSA and discovered that the cover wasn't as promised despite spending a significant amount of money. 

If you've signed up to one of these 'packages' there is a strong possibility your business isn't approriately covered, putting you at risk of an immediate fine from HMRC - ranging from £1,400 to £23,400 (latest issued fines for sourcing agents) + additional costs to set it right. 

Take control of your business and understand exactly what you're registering for. 

If you're at all worried, please contact the NAPSA team at [email protected]

Learn More
 

What You Should Expect to Pay

These are estimations based on latest figures and stats, however provides a general ballpark of £800 - £1000 for insurance and registrations. These may be different depending on your size of business and sourcing services. 

Insurance

As part of NAPSA Membership (first year included in the Programme), you can get access to up to 20% discount from Insurance-Desk. 

They understand the sourcing sector and will provide you with expert advise and a bespoke policy for your business. 

Allocate approx. £300-£325

 

HMRC Registration

Absolutely critical. Last year, 35 sourcing businesses were fined a combined £150k for failing to register on time. 

Make sure you have everything else ticked off on the compliance list BEFORE registering. 

Initial Set Up will cost £340 (1 person / 1 premises)

ICO Registration

Covers your Data Protection Supervision and a legal requirement for any sourcing business. 

Please make sure you have completed adequate Data Protection Training before registering. 

 

Cost: £40

Property Redress Registration

There is a choice between two government approved redress schemes. 

The Property Ombudsman (TPO) and The Property Redress Scheme (the PRS)

It's up to you on preference - we work with both through NAPSA.

Cost ranges between £145 - £332 +VAT 

What Our Customers Are Saying

We love getting feedback, especially when sourcers have found our training supportive for their business

"Really useful and knowledgeable info gained. If you're aiming for Gold Standard, this is the course for you. See you next year for my update."

Steven Waweru

Data Protection & AML

"The sourcing compliance course was great! Really helpful in outlining and understanding your responsibilities as a sourcing agent. 

Would definitely recommend."

Richard Bagguly

Legally Required Documents

"Tina, your approach is just unbelievable...I agree with it 100% and am so thankful to have purchased this course because of this approach you have."

Dorothy Nyarai Chakani

Day to Day Compliance 

"Tina's knowledge is priceless. Her courses are affordable and provide unbelievable quality."

Conor Burchall

Data Protection & AML

"Wow, what great information and so pleased to have completed this to stay up to date with requirements to be fully compliant."

Michelle Houldershaw

Data Protection & AML

"As always fabulous and relevant content, delivered in the most professional manner. Tina really is "The only Sheriff in town" certainly in compliance and the property sourcing space."

Alan Clark

Legally Required Documents

Sarah, Your Support Contact is Ready to Help

Not sure if this is for you or where to start? Get in touch and we'll be able to provide you with more guidance specific to you

Let us know where you need help

Complete the questions below and we'll come back to you!

Please note, we may require up to 2 working days to respond depending on your query

Our Partner: The National Association for Professional Sourcing Agents

 

The National Association of Professional Sourcing Agents (NAPSA) provides Sourcing Agents across the UK with support, guidance and access to heavily discounted training. The unique search tool allows investors to to find and contact compliant and approved Sourcers - the only platform in the UK to do this. 

As Members, you'll have access to the NAPSA marketing platform with your own bespoke company profile and 1:1 support. A great platform for starting your new business!

For more information about NAPSA visit: www.napsa.org.uk

Check Out NAPSA

Frequently Asked Questions

After over 1,000 calls with property sourcers, deal packagers and investors we have been asked similar questions over the years which we've tried to cover below

Everything Included in Our Sourcing Course

You’ll have 12 months access to all of our training content as soon as you join, with guidance provided on the recommended order to complete.

If you assign just 1 hour per day, you can complete our course in as little as 30 days.

NEW! Document Checklist Cheat Sheets >>

 

Introduction to Sourcing

A step into the sector to give you an overview of the costs, time and requirements involved with running a property sourcing business  

Approx. 3 hours

Data Protection

We've adapted our Data Protection course so that it's relevant to Property Sourcers. This is legally required for each director and shareholder in your business, so you'll be ticking off a need-to-have straight away 

Approx. 1.5 hours

Anti-Money Laundering

Also legally required for each director and shareholder in your business, this content has been adapted so that it relates to operating a property sourcing business

Approx. 1.5 hours

Legally Required Documents

No business can operate legally and professionally without the right documents and policies in place. This is why we have spent many years working with Forbes Commercial Contracts Solicitors to develop these documents at a cost in excess of £5k to our business, so you don't have to.

Editing the documents is essential to meeting compliance, as no one document fits all businesses. 

We will provide you with all of the legally required documents you need as editable versions + a video with each to show you how and when to use. As a bonus, you'll get any changes or additions over 12 months. 

Approx. 3 hours + 10 hours editing document templates

Document Templates

 
Document Cheat Sheet (New June 2024!)

  • 3x downloadable checklist sheets you can use to follow: 

    1. Overall Business (what you need before you work with an investor)
    2. New Investors - 8 steps to follow for every investor you work with
    3. Sellers: Direct to - 8 steps to follow before a deal is completed

CONTRACTS

Critical to making sure your investor understands your terms and fees, including a 12-page Terms of Business Agreement.

POLICIES

Including AML Policy and what you need to cover GDPR

AML RISK ASSESSMENTS

Check investors for low, medium and high risk. We'll show you what you need to assess and how to track for every new investor. 

CONTROLS & PROCEDURES

From investors to sellers - individual, company, trust and via 3rd party. We'll guide you through step-by-step of what you need to know when completing your controls and procedure forms.  

+ Bonus DocumentsTo help you if you land in a tricky situation with an investor complaint.  

Day to Day Sourcing

A vital learning step for your business, we'll run through in detail all of the processes you need from onboarding an investor through to securing a deal - the compliant way.

We are the only UK training provider to cover this level of detail in the process.

Approx. 12 hours

Custom Certification

Once you've completed your Data Protection & Anti-Money Laundering (AML) training, you'll receive a custom proof of completion certificate which is valid for 12 months.

We'll also remind you when this is up for renewal the next year!

 

As a NAPSA Member, you'll automatically get 25% off this training each year

 

 BONUS Membership

1-2-1 Support to check everything you've set up works before connecting with investors

- Up to 20% off insurance

- Investor Match (contact details shared - no extra cost)

- Marketing Support to boost your business

- Access to Private Partner Webinars (insurance, redress schemes etc.)

- Private Facebook Community for networking and co-sourcing

Do you have more than one director, shareholder or client facing member of staff in your business?

 

You'll need to cover Data Protection & AML cover for each of you. Please let us know when you purchase this course and we'll send through a 25% discount link for each person (as part of your NAPSA Membership) 

Become a Compliant Sourcing Business in 3 Steps

We've created an easy, cost-effective process for learning and setting up your property sourcer or deal packaging business

Learn Everything You Need to Know About Sourcing

Including the processes and procedures for running day to day effectively:

  • Marketing guidance on promoting your services to investors
  • How to find and onboard investors
  • Understanding fees and making sure you get paid!
  • Serious pitfalls to avoid fines or legal action! And what others just won't tell you (client accounts, insurance, co-sourcing!)

 

Total: £1,198.00 (total value up to £5k)

Set Up Your Business With Ease

Understand what you need to register for and in what order (it's important!)

  • Step by step guidance on registrations and order for set up
  • Access to up to 20% off insurance
  • Communication at any time with the team for support (no WhatsApp groups - we like direct communication!)

Please allow approx. £800 for registrations and insurance. 

Total cost depends on which redress scheme you choose, insurance policy, and how many directors/shareholders you have. 

Access 1-2-1 Compliance & Marketing Support

NAPSA's expert team will check your documents and procedures to make sure everything is running as it should - giving you confidence before going out into the world + receive:  

  • Searchable company profile
  • Custom investor match with contact details
  • 1-2-1 Marketing support to boost your business
  • Private industry resources (webinars, Hub content)

 

All to give you the best possible start to your sourcing business at NO extra cost!

Start Your Sourcing Journey Today

How Much Does it Cost to Set Up a Sourcing Business?

Full compliance is not just insurance and registrations. It's about how you operate every day, with every client, buyer and seller.

Understanding 'onboarding' a seller or buyer, securing them, packaging a deal legally, understanding risk - low or high, knowing 'Red Flags' for money laundering, understanding a due diligence process and of course ongoing monitoring.

We will equip you with the knowledge you need, to help you avoid those property sourcing fines!

Insurance

We work with a specialist insurance provider who understands the property sourcing sector and will customise a quote to suit your business profile.

Quote will be bespoke to your company

Beware: Some companies offer 'blanket cover' which may not be fit for purpose for your company, always understand the cover that you are offered and be sure that it's fit for the level of deals you source.

Registration:

Redress Scheme

You only need to join one of two redress schemes that cover our sector  

The Property Ombudsman (TPO): 

Initial application £262 + Joining Fee (1 year only) £70

Ongoing: £262 annually

Property Redress Scheme (PRS): 

Entry Level: £145 (£150 cost for any complaints)

Enhanced Level: £235 (complaints coverage included)

All costs are +VAT

Registration: ICO

Legally required registration for Data Protection supervision.

 

£40 (year one)

£35 after through Direct Debit

Compliance Training

It's vital you have knowledge of how you onboard an investor, secure a seller, and finalise a deal compliantly - otherwise you're opening yourself to a world of risk not only with money laundering but series fines from HMRC. 

We will equip you with the knowledge you need, to help you avoid the property sourcing mines! 

£395

(25% discount through our full course with NAPSA)

Legally Required Documents

No one document will fit all businesses, it is essential that each document reflects closely your business and how you work, not just a 'company name' dropped in here and there.

As above, we will provide you with all of the legally required documents you need to run your business compliantly

£795

(25% discount through our full course with NAPSA)

Registration: HMRC

Legally required registration for Data Protection supervision. Please don't register with HMRC until you know:

What minimum standards are expected of you in day to day operation - registration is NOT Full Compliance!

£340 (1 person / 1 premises)

Data Protection & Anti-Money Laundering (AML)

This is ongoing training by staying up to date with any changes in regulations or interpretation and should be completed at least annually.

Please note that all directors, shareholders and any customer facing staff must have this proof of training, each with a named certificate (not your business). 

£95 per person

(25% discount through our full course with NAPSA)

Through Our Training + NAPSA Membership: Approx £2k

 

Outside Our Training: Approx. £2.3k+*

 

Ongoing (annual) - Approx. £1k incl. registrations, Data Protection & AML training. Again, this will differ depending on the level of insurance obtained and from where.

*Warning: There are a lot of training courses & companies that offer 'everything you need' in one place. Ensure that you understand what 'Full Compliance' is before committing to any course offered (including our own)!

Sadly HMRC and other supervisory bodies don't care that you didn't know, or the course didn't cover that, and significant fines are being much more frequently issued to sourcing agents; please ensure that isn't you. If you are at all unsure, please reach out to us, we are here to help, guide and support you.

Contact us

 

[email protected]

Office: 01200 411 570

Address

Professional Sourcing Compliance Ltd

Registered Company No: 12828156

Registered Address: 22-28 Willow St, Accrington, Lancashire BB5 1LP

Registered: ICO (Data Protection) - ZA787506

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