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East Avenue are required by UK Law to adhere to legislation aimed at the prevention of money laundering.
The company has a continuing obligation to conduct due diligence on all customers with whom we transact, including beneficial owners of corporate bodies, and this will include verification of identity and proof of address, and in the case of a purchaser, confirmation of source of funds.
We regret that East Avenue will be unable to conduct business with customers who are unwilling to comply with the requirements of the necessary legislation. Copies of customer due diligence checks will be retained for as long as is necessary to satisfy legal requirements, and will be retained in an appropriate storage facility which, for the avoidance of doubt, may include storage solely in electronic form.
As part of our commitment to ensuring a secure and compliant property transaction, a fee of £40 (including VAT) will be applied for Anti-Money Laundering (AML) screening and identity verification checks. This fee covers the essential checks needed to verify your identity. Know Your Customer (KYC) due diligence and AML is a legal requirement. These checks are seamlessly carried out through our onboarding system, Kotini, in partnership with AplyiD, using their trusted technology. The AML and ID check fee will be clearly outlined during your onboarding process to ensure transparency. This helps us provide a smooth, secure, and compliant experience for all parties involved in the transaction.
Please note the fee is payable per property transaction, not per person.
The fee is non-refundable.