Initial price	£1,100,000
18/06/24	£1,000,000
Price Change	-9.09%

Laundering Regulations and to protect both the vendor and the purchaser. What does an identification check involve? An identification check is a process that verifies the identity of the purchaser(s) to ensure that they are who they say they are. This is a standard procedure in the property buying process and is required by law. Why is it necessary? The primary reason for carrying out an identification check is to comply with the Anti Money Laundering Regulations (AMLR). These regulations are designed to prevent, detect and report money laundering activities. By verifying the identity of the purchaser(s), we can help to ensure that the funds used to purchase a property are from legitimate sources and that the transaction is transparent. What documents are required for an identification check? Typically, the following documents are required for an identification check: 1. A valid passport or a national identity card. 2. A recent utility bill, bank statement or council tax bill that confirms your current address. 3. Proof of address for the last three years if you are purchasing as a company. The process may vary depending on the individual circumstances of the purchaser(s), and in some cases, additional documentation may be required. How is the identification check conducted? The identification check is usually conducted by the estate agent or solicitor acting for the purchaser(s). They will ask you to provide the necessary documents and may also take copies for their records. In some cases, they may also use an electronic identity verification service to verify your identity. Is there a fee for the identification check? In most cases, the identification check itself does not incur a separate fee. However, if an electronic identity verification service is used, there may be a charge. This fee is usually covered by the purchaser(s) as part of the overall costs associated with purchasing a property. What happens if I cannot provide the necessary documents? If you are unable to provide the necessary documents, it may delay the completion of your property purchase. In some cases, it could even lead to the transaction being cancelled. It is important to be prepared and to provide the required documents promptly to avoid any delays. In summary, an identification check is a mandatory part of the property buying process in the UK, designed to ensure compliance with Anti Money Laundering Regulations and to maintain the integrity of property transactions