New CONVEYANCING CHECKS - WHAT YOU NEED TO KNOW.

From 1 July 2026, changes to the Anti-Money Laundering and Counter-Terrorism Financing Act require clients entering into conveyancing transactions to provide more detailed information about their financial position.

As part of these changes, firms are now required to obtain & verify evidence relating to the source of funds used in a transaction, including requiring clients to produce supporting documentation when necessary.

Clients may be asked to provide bank statements, evidence of savings, or explanations for how funds have been accumulated, as well as any additional information needed to satisfy regulatory obligations.

These checks are mandatory for all clients & are designed to prevent fraud, money laundering & the misuse of the property system, helping to ensure transactions proceed safely & securely.

Clients are encouraged to contact us if they have any questions about the changes.