Rachel Collier

Why do you need my ID and bank statements?

By Rachel Collier at 00:00

So many clients ask this question when buying and selling property, it is common to hear “I have just given all this to the estate agents and my mortgage broker it is such a pain”. The short answer is to protect you and us. Money laundering is a problem for the UK, with trillions of pounds thought to be laundered through banks and properties. It has been pinpointed as a target for the government, with the economic secretary to the Treasury John Glen saying that “Money laundering regulation exists to help protect an honest business, so anyone who flaunts the law should know that swift action will be taken.”


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