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Manchester 0161 710 2010

Money Laundering ID

Information for Bidders and Purchasers on Money Laundering Checks

Under the Money Laundering, Terrorist Financing and Transfer of Funds (Information on the Payer) Regulations 2017, which came into effect on 26th June 2017, in addition to our Seller clients both Bidders and Buyers are to be treated as our Customer for the purposes of the regulations.

This means that we must carry out appropriate Customer Due Diligence Checks on all parties involved in the transaction, so if you wish to buy one of the properties we are marketing we are required to identify and verify in line with the Regulations:

  • The individual Bidding at the auction
  • The Purchaser if different from the Bidder
  • The source of any Funds if different from the Bidder or Purchaser, together with an explanation of the links between the various parties involved.

We will need to see written authority issued by the Purchaser if you intend to bid as their agent or representative.

IMPORTANT

Please note that we reserve the right to refuse a party to bid if we are not satisfied with the information provided. We will also review the information provided by any successful Bidder & Purchaser and may request additional information. If this is not provided the Auction Conduct Conditions enables us to treat this failure to provide information as your repudiation of the contract.


Original or Certified Copies of ID documents are required and a schedule detailing ID requirements for various types of Bidder and Purchaser is available here.

We would recommend that you register in advance of the Auction and you can download a Registration Form here.

Please be advised that we may retain copies of any documentary evidence of ID provided and any personal data supplied will be processed only for the purposes of preventing money laundering or terrorist financing or as permitted under section 40 & 41 of the Money Laundering Regulations. This information will be kept on file for a minimum of 5 years.

We also use an electronic verification system as part of our procedures. Whilst we do not need your permission to do this, please note this search leaves a “soft footprint “ on your credit file. We understand this does not affect your Credit Rating.

0161 710 2010
Manchester
0151 242 6754
Liverpool
0113 403 2010
Leeds
0121 213 6389
Birmingham
0207 692 1930
London
Landwood Property Auctions is a trading name of LWA Manchester Limited a company registered in the United Kingdom under company number: 10855915. Registered Office: South Central 11 Peter Street Manchester M2 5QR. A list of directors is available at the registered office. VAT Reg Number: 277177173