Mortgages

This practice is on the panels of all the major building societies and banks and dealing with the mortgage work for any purchase transaction is included in the fee quotation given to you.

MONEY LAUNDERING PRECAUTIONS

In line with legislation and all legal practices, this firm operates a Money Laundering Procedure. In this respect our requirements are as follows:-

1 At the outset of the transaction we will need to verify your identity by seeing your Passport, a new style driving licence together with a utility bill, bank statement or something similar which is less than 3 months old and addressed to you at your current property.

2 With clients who do not live locally, the identification procedure is undertaken by us sending you the appropriate form to complete which enables a local Accountant, Bank Official or Lawyer to copy the necessary documentation and certify those copies as being true copies, Once we have your identification papers these are stored so that in the event of us being instructed in subsequent transactions by you, we do not have to go through this process again. This is particularly useful for overseas and regular developer clients.

3 If your are not having a mortgage and paying cash for the property you will be required to produce evidence of the source of the funds. If for instance the money is deposited in a Bank/Building society account it will be necessary to have a copy of the bank statement/passbook and if the money has come from another source such as the sale of another property, inheritance etc, copy correspondence etc will need to be produced to substantiate that.

4 Confidentiality of clients affairs is paramount in this practice. However, under the proceeds of Crime act 2002 we are obliged to report information about financial offences to the National Criminal Intelligence Service. If it seems that funds involved in your transaction were derived from crime we may have to report it.