Legal Compliance
Anti-Money Laundering Requirements
Required by law for all property transactions. Please have your documents ready before auction day.
Why We Ask
UK law requires all property professionals to verify the identity of all buyers before they can bid or complete a purchase. This applies to all buyers: individuals, companies and trustees. We take these obligations seriously and all documentation is handled securely.
Section 1
For Individual Buyers
Photo Identification (one of:)
- ✓Current valid passport
- ✓Current UK driving licence (photo card)
- ✓National identity card (EEA nationals only)
Proof of Address (dated within 3 months, one of:)
- ✓Bank or building society statement
- ✓Council tax bill
- ✓Utility bill (gas, electric, water)
- ✓HMRC or government correspondence
Section 2
For Company Buyers
- ✓Certificate of Incorporation
- ✓Latest filed accounts (from Companies House)
- ✓Photo ID and proof of address for each director
- ✓Proof of registered company address
- ✓Beneficial ownership information (where applicable)
Section 3
Source of Funds
We may request evidence of the source of funds used for your purchase. This may include:
- •Recent bank statements showing the funds
- •A letter from your solicitor confirming funds
- •Evidence of a property sale or inheritance
- •Documentation from an investment account
This is a legal requirement and applies to all buyers regardless of purchase price.
All documentation submitted to Midas Property Auctions is handled in strict confidence and stored securely in accordance with the UK General Data Protection Regulation (UK GDPR) and the Money Laundering, Terrorist Financing and Transfer of Funds (Information on the Payer) Regulations 2017.
Ready to Bid?
Questions about AML?
Our team is happy to talk you through the process before auction day.