Need Advice On 'on Line' Kyc

[AuntLydia]

I am wanting to sell a property with a long term very good Tenant and have found on line a company that specialises in this. I won't name names as not sure if this is against site rules but if it isn't then I will in later replies. They are based in London .They seem very professional and I have opted for the one off fee if the property sells. They now want me to fill in an online KYC , know your client, through a third party site Onfido. I've started the process but it is very sensitive info I'm being asked for including all info for everyone living in the house over 16. My gut says don't do it but the company itself seems kosher. Other times when I've sold property they just ask for a copy of your passport or do a credit check . Is this a new thing? Should I be wary?

[AuntLydia]

Anyone? Please?

[DarceyK123]

Have you tried Googling the Company to see if there are any articles or reviews?

[AuntLydia]

Hi Darcy and thanks for answering. The Company sounds genuine,but who knows these days, nice website can't find any reviews but they are a new company. They only have 38 properties on their books. I'm not giving them any money up front . Its the 'Know Your Customer" site I have been directed to for ID purposes I'm worried about. They want me to send passport scans for all members of family over 16 along with sensitive info like dob and NI numbers.

[Buenchico]

Onfido itself seems to be reputable:
https://www.telegraph.co.uk/technology/2017/09/28/onfido-secures-22m-checking-business-backing-microsoft/

[AuntLydia]

Thank you for the link Buenchico. I'm still wary about sending sensitive info to 3rd party companies. Life is so complicated these days no wonder people get scammed :-(

[bednobs]

i think it's very reasonable that anyone who'll be taking on a house with a long term tenent should know who is living there. In fact isn't it the law now that landlords have some responsibility in checking peoples right to be here?

[Buenchico]

I suspect that the difference between when you've sold houses in the past and your current proposed transaction is the presence of the tenant. That means that, in effect, it's not a property that you're selling but a business that produces income. That would probably bring the transaction within the scope of the Money Laundering Regulations 2017.

[bednobs]

https://www.gov.uk/check-tenant-right-to-rent-documents

[AuntLydia]

Bednobs you have the wrong end of the stick. I am selling the property. The Estate agents want me and any person living in my house to fill in the forms probably to check I'm not money laundering or something.

[AuntLydia]

crossed post buenchico , think you've nailed it. Thanks.

[bednobs]

no i definately got the right end of the stick. You are selling the property with a tenant in situ. The new owner will need to satisfy themselves about who the tenants are, and that they have a right to reside and rent. That is why they are asking u for the info

[AuntLydia]

bednobs: They are asking for MY details not those of the Tenant. I have already given them the Tenants details, including copy of Tenancy agreement , safety certs etc. The property is going onto the market, there is no 'new owner' yet. When an offer is accepted all the details of the Tenant will be there for the potential new owner to see. The Estate agency want proof of MY identity. Thankfully I've sorted it out now and believe its all above board. Thank you for your input.

[bednobs]

you said everyone in the house - i presumed you are not selling your house, but "the" house we are talking of was the house