As of 14th May 2025, new legal regulations require all UK letting agents to carry out financial sanctions checks on both landlords and tenants. This is part of a wider effort by the UK government to strengthen the rental market’s integrity and ensure that no individual or entity subject to financial sanctions can legally rent or let property.
At Patchett Homes, we are fully prepared for this change—and we want to reassure our clients that we will not be charging any additional fees for carrying out these mandatory checks.
What Are Financial Sanctions?
Financial sanctions are restrictions imposed by the government to freeze the assets of designated individuals or organisations and limit their financial activity. This is usually done for reasons related to national security, international relations, or to combat money laundering and terrorism financing.
In the UK, the Office of Financial Sanctions Implementation (OFSI) maintains a regularly updated list of sanctioned individuals and entities. Letting agents must now check this list before proceeding with any tenancy.
What’s Changing?
From 14 May 2025:
- Letting agents must screen landlords when they are first instructed to market a property.
- Tenants must also be screened once an offer has been accepted—before a tenancy agreement is signed.
These checks are mandatory and failing to comply can result in significant fines and legal action.
What This Means for You
For Landlords:
- If you’re a landlord working with Patchett Homes, we will carry out these checks discreetly and efficiently as part of our onboarding process.
- There’s no extra cost to you—it’s just part of our commitment to compliance and professionalism.
For Tenants:
- Once your rental application is accepted, we’ll run a sanctions check to confirm you’re not on the UK sanctions list.
- This will not affect your application unless there is a confirmed match—which is extremely rare.
Why We’re Not Charging
At Patchett Homes, we believe in transparent and fair pricing. Compliance with the law should be a standard part of professional letting agency service—not an opportunity to add fees.
We understand that moving home is already a significant expense, so rest assured that this is one more way we’re making the process smoother and stress-free for everyone involved.
Need more information?
If you’re a landlord or tenant with questions about these new regulations or how they may affect you, don’t hesitate to get in touch with our team.
Call us on 01274 882 331
Email us at info@patchett-homes.co.uk