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 are carried out correctly, the initial checks are carried out on our behalf by Hipla who will contact you once you have agreed to instruct us in your sale or had an offer accepted on a property you wish to buy.
You will need to complete their process which will include providing personal information. Hipla will search several different databases including credit reference bureaux’s, the electoral roll, and HM Land Registry, where relevant. These checks will leave a record of the search within your credit file but will not affect your credit rating.
The cost of these checks is £30 (incl VAT) per person, 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 Hipla, and is non-refundable. We will receive some of the fee taken by Hipla to compensate for its role in the provision of these checks.