As with all Estate Agents, London Realty International is subject to the Money Laundering Regulations 2017. This means that we have to obtain and hold identification and proof of address for all customers. Additionally, we are also required to establish whether there are any beneficial owners on whose behalf the transaction or activity is taking place, hence, we would request you to identify anyone who you would consider to be a beneficial owner. Where appropriate, the source or destination of funds may also be requested. Without this information we will be unable to proceed with any work on your behalf.
Below is a list of acceptable identity documents. We require sight of all original or certified documents. Subject to your individual circumstances, London Realty International may liaise with you for further/other documentation.
Individual identity documents
London Realty International requires one document from List A and one document from List B.
LIST A - IDENTITY DOCUMENT
Current signed passport
Valid UK driving licence
EEA member state identity card
LIST B - PROOF OF ADDRESS
UK/EU/EEA Drivers Licence (if UK Drivers Licence not used as ID)
Must be valid, not expired. Photo only. Full or provisional.
Bank, Building Society or Credit Union Statement
Dated with 3 months. Must include account number and show recent activity. No general correspondence.
Credit Card Statement
Dated within 3 months. Must include account number and show recent activity. No general correspondence.
UK, EU, EEA Mortgage statement
Dated within 12 months. Must show account number. No general correspondence.
Utility Bill
Dated within 6 months E.g. Gas, electricity, water. Must show address for service and/or account number. No general correspondence.
Telephone Bill
Dated within 6 months E.g. Landline or mobile pay monthly (excluding pay as you go). Must show address for service and/or account number. No general correspondence.
Council Tax
Dated within 12 months. Must show address for service and/or account number. No general correspondence.
Tenancy Agreement
Dated with 12 months. Must state full name and full property address. Issued by local council, housing association, solicitor or reputable letting agent.
Benefits Entitlement Letter
Dated within 12 months. Issued by DWP or Jobcentre plus. Must confirm benefit payable at time of issue. E.g. Pension, disability, single parent, housing etc.
HMRC Tax Notification
Dated with 6 months. Must state national insurance number and tax calculation. No general correspondence.
Home or Motor Insurance Certificate
Dated within 12 months. Must state insured address or registered address for vehicle and policy number. No general correspondence.
UK solicitors letter confirming house purchase/land registration
Dated with 3 months. Must state full name of new proprietor and full property address.
NHS Medical Card or letter from GP confirming registration
Dated within 3 months. Must state individual’s date of birth and NHS number. No general correspondence.
Official confirmation of Electoral Register entry or official poll card
Dated within 12 months. Must state full name and full address. No general correspondence.
Police Registration Certificate
Dated within 12 months. Must state the full residential address of the individual.
Probate
If you are acting as a Representative of an Estate we require the following:
Grant of Probate (if a will was left)
Letter of administration (if no will left)
Individual identity evidence from List A & B for the Personal Representative, either executor or administrator
Limited company
If you are acting as a Representative of a UK Company we will also require the following:
Certificate of Incorporation
Articles of Association
Memorandum of Association
Latest Annual Return or Confirmation Statement, with details of current company officers
If offshore, nominee director declaration and a general power of attorney
Individual identity evidence from List A and B for all individuals or entities with 25% or more of the shares or voting rights in the company
If you are acting as a Representative of an Offshore Company we will also require the following:
Certificate of Incorporation
Articles of Association, Memorandum of Association, Latest Annual Return with details of current company officers, Share Certificate(s) showing the Ultimate Beneficial Owner OR
Certificate of Incumbency
If the shares are owned by another company, repeat steps above for the holding company
Nominee director declaration and/or general Power of Attorney (if applicable)
Individual identity evidence from List A and B for all individuals or entities with 25% or more of the shares or voting rights in the company
Trust
If you are acting as a Representative of a Trust we require the following:
Trust deed
List of trustees
List of beneficiaries
Individual Identity evidence from List A & B for all individuals with a vest interest in 25% or more of the capital and/or those who exercise control over the Trust
PROOF OF SOURCE OF FUNDS
To check that you have legally acquired the money you are using to buy the property, you will be asked to supply a proof of funds.
You may find that that you are asked for proof of funds initially by the estate agent because they want to make sure you are a genuine buyer who is interested in the property. However, you don’t have to provide proof of funds before putting an offer in if you don’t want to.
If the estate agent asks for proof of funds after you put an offer in, then they are not only checking that you have the money to actually pay for the property, but also carrying out their money laundering checks. You must provide proof of funds if asked for it at this stage.
Similarly, you will also be asked by your solicitor or conveyancer and your mortgage provider once the ball is rolling on your property purchase.
Examples of proof
Proof of funds can be shown with:
Bank statements of your deposit amount (for mortgage buyers)
Bank statements of your cash amount (for cash buyers)
Evidence of you selling a property (if using the funds to buy the new property)
Evidence if the money has been gifted
Your estate agent can ask you to provide more details of where your money has come from. This is normal practice as all estate agents must conform to the Money Laundering Regulations, and doing thorough checks is standard practice.
Further proof
Depending on where you got the money for your deposit or the property’s price (if you are a cash buyer), you may be asked for further proof to show that the money has come from where you have claimed.
They may require, for example:
A letter from whoever gifted your money (e.g. your parents have given money towards your deposit, won the lottery, left money in a will)
Further bank statements from the past months/years (to show how your money has built up over time)
Evidence or receipts for gambling winnings, sale of shares or other large amounts of money in your bank account
Best practice is to keep evidence of where all the funds going towards your property purchase have come from; that way you can be prepared if anyone asks for it.
