Buyer / Trust

Stage 1: Confirming Identity

In the case of a trust, we need to identify the following:

• Settlor(s)
• Trustees (up to two including the trustee we are dealing with or the protector, unless it is a regulated trust company)
• Beneficiaries entitled to over 25% (if identified in the trust deed)
• Any individual who exercises control over the trust e.g the appointer or protector

We utilise a software application known as Thirdfort to complete identity checks on any individuals we must verify. Thirdfort will confirm their identity, their address and whether they are a politically exposed person, subject to sanctions and/or any adverse media which we must consider as part of the required customer due diligence process. You can find more information on Thirdfort here.

We will also need you to provide the following:

• Proof of trust registration
• A copy of the deed of trust or an extract clearly identifying the nature of it e.g. discretionary and who the settlor, trustees & beneficiaries are.

Stage 2: Source of Funds

It is up to you to prove that your money has not come from the proceeds of crime. This requires you to show how the funds legitimately came into your possession. The proof required depends on how you came to have the money:

Salary: payslips, your employment contract or a letter from your employer confirming your salary.

Savings: If you have saved the money yourself, you’ll need to provide bank statements going back over time, showing how you gradually built up the money (and/or the legitimate source of those savings, e.g. share sale).

Gift:

• A letter from the person gifting you the money confirming they have gifted £xxx amount to you and that they do not expect to have any rights over the property.
• Their bank statements going back over time, showing how they gradually built up the money (and/or the legitimate source of those savings, e.g. share sale).
• We will need to establish proof of identity & proof of address for any person gifting the funds (or any part thereof) - we'll use Thirdfort for this.

Inheritance: Evidence from the executors of the estate i.e. death certificate and extract from will.

Sale of Property: A copy of the completion statement from your solicitor or a copy of your bank statement showing the money being received from a solicitor.

Pension: A copy of your pension statement and a copy of your bank statement showing the money coming in from a pension firm.

Gambling Winnings: A receipt(s) proving your winnings.

Compensation: A copy of the letter you received from a solicitor or court confirming your compensation settlement.

Loan: A copy of the loan agreement (including re-mortgage/drawdown facility) from the bank or lender.

Mortgage: A copy of your agreement in principle or mortgage offer.

Investments: Full statement showing portfolio value

Third-party individual/ entity providing funds? We are required to confirm the relationship with the third party, verify their identity and how they acquired those funds (see Gift).