Mortgage Offer Not Required by Exchange of Contracts

What to expect from reservation to exchange of contracts

Once you have identified your new home and agreed the details of the purchase, your Sales Team will help guide you through the next few weeks to ensure that you successfully secure your new home with legal exchange of contracts.

Below is an outline of what you can expect during this exciting time.

[1] Requirements for Anti-Money Laundering Due Diligence

As a result of government regulations aimed at fighting financial crime we are obliged to verify the identity of those we do business with. It is therefore our policy to verify the identity of our purchasers at the time of reservation.

To verify identity we require sight of the below documents and details from you:

1. Proof of identity document
   This should be an original current valid full passport or photocard driving licence, or similar.
2. Proof of address document
   This should be a utility bill (electricity, gas, water, council tax or telephone, but not a mobile telephone) or bank statement showing your name and current permanent address. It must be:
   • an original (not online) copy
   • recent, from within the last 6 months
3. Employment details
   Including job title, employers name and term of employment.
4. Funding
   Whether you will be taking out a mortgage or funding the purchase entirely with cash.
5. Source of funds
   The source of any cash you are putting towards the purchase.

We will take copies of the appropriate documents to provide a record that the appropriate identification checks have been carried out and immediately return the originals to you. The photocopies will be treated as confidential and will be securely retained by us.

In the event of a joint purchase, we require:

• Separate verification, as above, for all parties.
• The nature of the relationship(s) between all parties.

If the reservation fee is paid by someone other than one of the purchasers, or there is a gift contributing to the purchase, we require:

• Separate verification, as above, for the reservation fee payer(s) and/or giftor(s).

In the event that the purchase is to be in the name of a company, partnership or trust:

• Please speak with a member of the sales team to establish the identity verification requirements that apply.
• Identity verification for corporate entities is likely to include identity verification for individuals, as above, involved with the corporate entity in addition to documents relating to the corporate entity itself, such as a Certificate of Incorporation.