In accordance with the UK’s Anti Money Laundering (AML) Regulations as your estate agent We are required by law to confirm the identity of all seller(s)/ beneficial owners of the Property as well as buyers with whom we will transact. We are also required to keep a record of the checks We have made. Any personal data scrutinised and recorded by Us under the Regulations may only be processed for the prevention of money laundering, tax evasion and terrorist financing, but will not be used for any other purposes. This use is necessary in order for Us to exercise a public function that is in the public interest and to carry out a function required by legislation.
To comply with the Regulations, We use an ID verification process operated by a third party, Lifetime Legal. You will need to complete their process which will include providing personal information. Lifetime Legal will search several different databases including credit reference bureaux’s, the electoral roll and HM Land Registry where relevant. These checks will leave a record of the search within Your credit file, but will not affect your credit rating in any way.
Occasionally, additional information or documentation may be requested to support the process. This is likely to be a Council Tax bill, bank statement or utility bill dated within the last 3 months.
There is a non-refundable charge of £60 including VAT. This does not increase if there is more than one individual selling. This will be collected in advance by Lifetime Legal as a single payment.