Knowing our customers
Should you choose to reserve a brand new home with us, there are a few checks that we are legally bound to undertake before we can process your reservation. Know your customer (KYC) checks are measures that many businesses must apply so that they can comply with laws and regulations that aim to prevent financial crime. This is an exciting time in your home moving journey and we look forward to working with you throughout the process.
Here you will be able to find out more about what happens through a series of the most commonly asked questions. There is also a step by step guide on how to complete your KYC check so that you can be prepared in advance with all the correct information and paperwork required, making the process as quick and easy as possible.
Frequently Asked Questions
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KYC stands for "Know Your Customer" and is a process where businesses, particularly in the financial sector, verify the identity of their customers to prevent fraud and illegal activities like money laundering.
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A KYC check is an assessment to confirm your identity and to make sure that you’re not purchasing on behalf of someone else. We may also need you to provide evidence that you have sufficient funds and provide documentation that shows where the money is coming from, such as the sale of your last home. There is no need to worry if we request these documents. It’s good practice to make sure that you have them readily available and please don’t hesitate to ask your Sales Adviser if you have any queries.
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As one of the country’s leading homebuilders we take our legal duty to help prevent financial crime very seriously. Given the large sums of money involved in buying a home, we must verify the identity of each customer, even if your solicitor or licensed conveyancer has previously carried out checks.
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The KYC check must be completed before you can complete the full reservation and pay your reservation fee.
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The KYC check is completed electronically using software called SmartSearch. The process is clear and easy to follow and can be done on either a smartphone or a computer. Your Sales Adviser will send a link to either your mobile phone or email address - whichever you prefer. You will be able to click on the link supplied and fill in the required information yourself.You will be asked:
- To answer a short questionnaire about your purchase
- To take a photograph of your ID e.g. your passport, driving licence or National Identity card
- To take a photograph of yourself
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SmartSearch will perform the check using data from credit reference agencies. This check will not have negative impact on your credit rating as it only leaves a ‘soft footprint’. If you would like more detailed information on this, you can find it in our Group Privacy Statement. Sometimes we may have to ask you to provide additional information in order to complete this check, but your Sales Adviser will be on hand to help should it be required.
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The KYC check is completed online so ideally you will have your own smartphone or computer with a camera in order to complete it, however if you don’t have one of these available your Sales Adviser will be able assist you in the Marketing Suite.
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All customers purchasing the home will need their own KYC check completing, including anyone who may be gifting funds towards the purchase of the home.
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If you are buying on behalf of a company or assigning a contract to another entity, extra checks will be required. We will explain the process at the time so please discuss this with your Sales Adviser.
Smart Search - A step by step guide
Step 1 - Information gathering
You will be required to provide the following information:
- Your full name as shown on your passport including any middle names
- Your date of birth
- Your full address. If you are a non UK resident, please provide your Sales Adviser with your full address in your residing country. For addresses outside of the UK, they will ask you for a proof of address document such as a utility bill, bank statement or driving licence
- The length of time at your current address. If you have lived at that address for less than a year you may be asked to supply details of your previous address as well
Step 2 - Questionnaire
You will be asked the following 6 questions. If you are unsure of any of the answers, please speak to your Sales Adviser.
- Are you going to live in the property?
- What percentage of the purchase price will be funded by a mortgage?
- Are you buying 3 or more properties from David Wilson Homes, Barratt Homes, Barratt London or Redrow Homes?
- Have you bought 2 or more properties from David Wilson Homes, Barratt Homes, Barratt London or Redrow Homes within the last 12 months?
- Will anyone else be providing funds towards the purchase?
- Are you or any immediate family, close friends or work colleagues a politically exposed person?
When completing the questionnaire, you do not need to declare if the deposit is being provided by David Wilson Homes as part of your incentive package.
Step 3 - ID verification
The final step of the process is providing a copy of either your passport, driving license or National ID card and a live photograph of yourself. This will allow the system to match your ID documents to your image via facial recognition technology.
Full details on how to upload these are below. Once these documents have been accepted your Sales Adviser will be in touch to advise of next steps and complete your reservation.
How to complete the ID check
Uploading your ID
- Documents are fully in the frame and key features are not obstructed by fingers, reflection or glare
- The image is in focus. You will be asked to repeat the process until a clear photograph is accepted
- You photograph both sides of your driving license