Sales
We are required by law to conduct anti-money laundering checks on all those selling or buying a property. Whilst we retain responsibility for ensuring checks and any ongoing monitoring being carried out correctly, the initial checks are carried out on our behalf by Lifetime Legal, who will contact you once you have agreed to instruct us in your sale, or have had an offer accepted on a property you wish to buy. The cost of these checks is £45 (incl. VAT), which covers the cost of obtaining relevant data and any manual checks and monitoring which might be required. This fee will need to be paid by you, in advance of us publishing your property (in the case of a vendor), or issuing a memorandum of sale (in the case of a buyer), directly to Lifetime Legal and is non-refundable. We will receive some of the fee taken by Lifetime Legal to compensate for its role in the provision of these checks.
Lettings
Mackenzie Smith is committed to complying with all applicable UK Anti-Money Laundering (AML) legislation and regulations. We take our legal and regulatory responsibilities seriously and have policies and procedures in place to help prevent money laundering, terrorist financing, fraud, and other financial crimes.
Customer Due DiligenceIn accordance with our legal obligations, we may be required to verify the identity of our landlords, tenants, property owners, beneficial owners, and other parties involved in property transactions. This may include requesting:• Proof of identity (such as a passport or driving licence)• Proof of address (such as a utility bill or bank statement)• Information regarding the source of funds or source of wealth where appropriate• Information relating to ownership or control of a property or business
Verification ChecksWe may carry out electronic identity verification and screening checks through approved third-party providers. These checks help us meet our regulatory obligations and protect our clients and business from financial crime.
Record KeepingWe are required to retain certain records and identification documents for a period prescribed by law. All personal information is handled in accordance with our Privacy Policy and applicable data protection legislation.
Suspicious ActivityWhere we have reasonable grounds to suspect money laundering, terrorist financing, or other criminal activity, we may be legally obliged to report our concerns to the relevant authorities. In such circumstances, we may not be permitted to inform the individuals concerned.
Further InformationIf you have any questions regarding our Anti-Money Laundering procedures, please contact us using the details provided on our website.
