Compliance Policy

Compliance and Anti-Money Laundering Policy

As a regulated property professional, Young & Gilling Ltd has a legal and social responsibility to help prevent financial crime. We operate a strict "Know Your Customer" policy across all our departments.

1. Residential & Commercial Sales

Under the Money Laundering, Terrorist Financing and Transfer of Funds Regulations 2017, we are required to verify the identity of both the Vendor and the Purchaser.

• Identity Verification: We use a combination of certified digital ID verification and physical document checks (Passport, Driving Licence, etc.).
• Source of Funds: We are legally required to understand and evidence how a purchase is being funded. This may include bank statements, gift letters, or proof of asset sales.
• Ultimate Beneficial Owners (UBO): For corporate purchases, we must identify the individuals who ultimately own or control the company.

2. Residential & Commercial Lettings

Following the May 2025 Sanctions Update, letting agents are now classified as "relevant firms" for financial sanctions.

• Sanctions Screening: All landlords, tenants, and guarantors are screened against the UK Government’s Single Sanctions List (launched Jan 28, 2026). It is a criminal offence for us to facilitate a tenancy involving a "designated person" on this list.
• Right to Rent: We conduct mandatory Right to Rent checks on all occupiers over the age of 18 in accordance with the Immigration Act.

3. Block & Estate Management

While pure management services fall outside some AML reporting, we still maintain high standards of due diligence:

• Contractor Vetting: All contractors must provide proof of identity and valid insurance.
• Sanctions Compliance: We ensure that no service charge funds are accepted from, or paid to, individuals or entities appearing on the UK Sanctions List.

4. Why we use Electronic Verification

To make the process as seamless as possible, we use government-certified digital identity providers. These checks may leave a "soft footprint" on your credit file (similar to an insurance quote), but they do not affect your credit score.

Young & Gilling Ltd is supervised by HMRC for AML purposes and registered with the Information Commissioner’s Office (ICO) for Data Protection.

Tenant protection

Young & Gilling Ltd is a member of Safeagent, which is a client money protection scheme, and also a member of The Property Ombudsman, which is a redress scheme. You can find out more details on the agent’s website or by contacting the agent directly.