Anti Money Laundering Notice

HOW DO THE MONEY LAUNDERING REGULATIONS IMPACT ESTATE AGENTS?

We are legally obliged to comply with the Money Laundering Regulations 2017 (as amended) and the Proceeds of Crime Act 2002 and are supervised by HM Revenue and Customs.

WHAT IS MONEY LAUNDERING?

Money laundering is the process used to disguise the origins of funds generated by illicit or criminal activities and making the funds appear to have come from a legitimate source. Property is widely recognised as an attractive target for those wanting to hide the proceeds of crime.

HOW DOES THIS AFFECT YOU?

In the same way that you are required to prove your identity when opening a new bank account, if you are buying or selling, or letting or renting a property, we’ll also need to see certain documentation. If you do not provide the information and /or documentation we request, unfortunately we will not be able to go ahead with the transaction.

FOR PRIVATE INDIVIDUALS WE WILL NEED:

01 | Evidence of your identity:

(one document from this list)

• Valid passport
• Valid photo-card UK driving licence (full or provisional)
• National Identity Card or photo-card driving licence issued by the country of residence (if residing outside of the UK)

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02 | Evidence of your current residential address:

(one document from this list)

• UK Residents

  We utilise systems to verify your address. Where it cannot be verified, you may be required to upload a copy of your proof of address. Should this be the case, you can provide a UK photocard driving licence or any of the documents listed in the Non-UK residents section.

• Non-UK Residents

  If you reside outside of the UK you will be required to upload a certified copy of your proof of address.

  • A utility bill issued within the last three months (excluding mobile phone bills)
  • Bank, credit card, building society or credit union statement issued within the last three months
  • A written reference (addressed to Savills by the referee) from a bank or regulated legal professional who has advised the individual for the past two years.

  Please note we are unable to accept C/O or P/O Box addresses, or insurance certificates as proof of address.

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FOR CORPORATE BODIES WE WILL NEED:

(including companies, partnerships, trusts etc)

When conducting due diligence on corporate bodies we are required to verify the entity and understand the ownership and control structure. We may need information and documentation from you to do this, for example we may need confirmation of:

• The contracting party and legal status
• Statutory directors (or equivalent)
• ID documents for directors and beneficial owners
• Ownership structure including the names of individuals owning or controlling more than 25% or more of the contracting party (beneficial owners)

Your Savills office contact or our dedicated Compliance team will provide you with a list of requirements based on your specific entity type. We may also require some additional information and documentation to evidence your source of funds and wealth. It's important that you start preparing all of the paperwork as soon as possible to reduce the risk of any delays to the transaction.

Where certification is required for corporate or ID documents, we can consider copies certified by a recognised profession (e.g. solicitor, bank, accountant or notary public). The documents must contain the details of the individual certifying the copy (including name, company and position), their contact details and date of certification.

For certification of ID and proof of address documents only, you may also bring your documents into one of our Savills offices.

For a complete list of acceptable documents and certification guidelines for U.K. Private Individuals download our verification guidance checklist.