Buyers Guide 3 – Customer Due Diligence

Customer Due Diligence: What You Need to Know Before You Bid

 

Buying property at auction is fast, exciting – and legally binding. That’s why we take our responsibilities around anti-money laundering (AML) regulations seriously, ensuring that all buyers are properly verified before bidding.

 

To make this process smooth and secure, we’ve partnered with Credas, a leading digital verification platform. Whether you’re buying as an individual or on behalf of a company, here’s what to expect when it comes to customer due diligence (CDD) and what documents you’ll need to provide.

 

Why We Need to Verify You

 

As a regulated auction house, we are legally required to carry out identity and residency checks on all prospective buyers before they can participate in our auctions. This helps prevent fraud, money laundering, and other illegal activity – keeping the process safe and transparent for everyone involved.

 

Our verification process allows you to submit your documents securely and from the comfort of your own home using your smartphone or device.

 

What You’ll Need to Provide

 

To complete your verification, you’ll need to submit two types of documents:

 

✅ List A – Proof of Identity (with photo)

Please supply one of the following:

  • A valid, signed passport
  • A valid, signed UK photo-card driving licence
  • A valid identity card (HM Forces, police, prison officer, government or local authority issued)
  • A firearm or shotgun licence

 

✅ List B – Proof of Residence (showing your name and address)

Please supply one of the following (dated within the last 3 months, unless stated otherwise):

  • Inland Revenue tax notification, self-assessment, or tax demand
  • Household insurance certificate
  • Utility bill (excluding mobile phone bills)
  • Council tax bill
  • Council rent book showing 3 months of payments
  • Mortgage statement for the latest financial year
  • Bank, building society, or credit card statement (original and recent)

 

What About Companies, Trusts or Other Entities?

 

If you are bidding on behalf of a Limited Company, we will require:

  • Certificate of Incorporation
  • Confirmation of all directors and shareholders (as registered with Companies House)
  • Verification of the bidding director’s identity
  • Verification of all beneficial owners holding 25% or more of the company’s share capital

 

If you represent a UK trust, partnership, registered charity, pension scheme, local authority, or you are a non-UK buyer, we ask that you contact us well in advance of bidding. The documentation required varies, and we’ll guide you through exactly what is needed for compliance.

 

How the Due Diligence Process Works

 

  • We send you a secure link via SMS or email
  • You use your smartphone or device to scan your ID and take a quick selfie
  • You upload a supporting proof of address document
  • We check your documents electronically, using advanced ID authentication tools
  • Once verified, you’re ready to register and bid

 

Please note: We may conduct additional electronic checks to validate the documents you provide.

 

Tips for a Smooth Verification

 

  • Make sure your documents are valid, clear, and in date
  • Ensure your address matches across documents where relevant
  • Complete the verification as early as possible before auction day
  • Don’t leave registration until the last minute – verification is mandatory and must be completed in full before bidding

 

Need Help?

 

Our team is here to support you at every step. If you’re unsure which documents to use, or need help using Credas, just give us a call.