Anti-money laundering (AML)

Protecting our clients. Protecting the integrity of every transaction.

At Sable and Stone Real Estate, we take the integrity and security of every property transaction seriously. Property transactions can involve significant sums of money. As an estate agency business we are supervised for anti-money laundering purposes by HM Revenue and Customs, and we are required by law to carry out anti-money laundering and identity verification checks before a sale can proceed. These are not checks we can waive, however well we know you.

Our approach is professional, proportionate and designed to protect our clients, our business and the wider property market.

What anti-money laundering means

Anti-Money Laundering requirements are designed to prevent legitimate businesses and financial systems from being used to conceal or transfer the proceeds of criminal activity.

As part of our compliance procedures, we may need to establish and verify information about our clients and, where applicable, other parties connected with a transaction.

Who regulates us for this

Estate agency businesses are supervised for anti-money laundering purposes by HM Revenue and Customs, and must be registered with HMRC before they begin trading. The rules are set by the Money Laundering, Terrorist Financing and Transfer of Funds (Information on the Payer) Regulations 2017.

The position for lettings is narrower. A letting agency business is only brought within the regulations where the tenancy is for a term of a month or more at a rent equivalent to £10,000 a month or more. Most residential lettings therefore fall outside the money laundering regulations, although we still carry out identity and Right to Rent checks on every tenancy for other reasons.

Identity verification

Before proceeding with certain services or transactions, we may ask you to provide appropriate identification and supporting information.

This may include:

• Full legal name
• Date of birth
• Residential address
• Valid photographic identification
• Proof of address
• Information relating to the transaction
• The precise information required will depend on the circumstances and applicable legal requirements

Source of funds and source of wealth

For certain transactions, we may be required to obtain information or supporting evidence concerning the source of funds being used.

In higher-risk circumstances, additional information regarding the source of wealth may also be required.

This is not intended to cause unnecessary inconvenience. These checks form part of our legal and regulatory responsibilities and help us understand the nature of the transaction.

Companies, trusts and other structures

Where a property transaction involves a company, partnership, trust or other legal structure, additional verification may be required.

This may include identifying:

• The legal entity
• Directors or controlling individuals
• Beneficial owners
• Trustees or relevant parties
• The purpose and nature of the transaction
• Additional documentation may be requested where appropriate

Why are these checks required?

AML checks help us:

Verify identity

Confirm that we know who we are dealing with.

Protect transactions

Reduce the risk of fraud and financial crime.

Meet our obligations

Comply with applicable UK anti-money laundering requirements.

Protect our clients

Help maintain confidence and integrity throughout the property transaction.

A professional and discreet process

We understand that providing personal or financial information can feel intrusive.

Our team aims to conduct verification professionally, securely and with appropriate discretion. Information provided for compliance purposes will be handled in accordance with our Privacy Policy and applicable data protection requirements.

Please respond promptly to reasonable verification requests, as failure to complete required checks may prevent us from proceeding with a transaction or providing certain services.

Important information