Anti Money Laundering Statement
Why We Charge an Upfront AML Fee
To comply with UK law, Personal Economy Partners must carry out Anti-Money Laundering (AML), Politically Exposed Person (PEP), and Sanctions checks on all individuals involved in a property sale or purchase.
We work with a specialist compliance firm who will carry out these checks on our behalf. You’ll be contacted by them once you’ve:
- Instructed us to sell your property, or
- Had an offer accepted on a property you’re buying
What’s the Cost?
A one-off fee of £60.00 + VAT applies. This covers:
- Secure identity verification
- Access to legal and financial data sources
- Any manual checks or ongoing compliance monitoring
This fee is payable directly to Personal Economy Partners and is required before:
- We list your property for sale (vendors), or
- We issue a memorandum of sale (buyers)
Please note: This fee is non-refundable.
AML Fee – Frequently Asked Questions
Why is this necessary?
These checks are a legal requirement for all UK property transactions. They help prevent fraud and money laundering, and protect all parties involved in the sale or purchase.
Who carries out the checks?
Our specialist compliance partner handles the checks securely and professionally. We oversee the process and ensure compliance is met throughout.
Do I still pay this if the sale doesn’t complete?
Yes. The fee is for the compliance process itself, which begins at instruction or offer acceptance, regardless of whether the transaction proceeds.
Is the fee refundable?
No. As the work is carried out up front, the fee is non-refundable.
