As of 14 May 2025, new rules now require letting agents across the UK to carry out financial sanctions checks on all landlords and tenants. This change is part of a wider effort to ensure compliance with international sanctions and improve the integrity of the rental market.
So, what exactly are financial sanctions? These are restrictions placed on individuals, businesses, or even countries to prevent illegal financial activity. The aim is to protect national security and enforce foreign policy.
Under the new regulations, letting agents must:
- Screen all landlords and tenants against the UK government’s financial sanctions list
- Report any matches to the appropriate authorities immediately
- Keep detailed records of all checks for auditing purposes
For landlords, this means being prepared to provide valid ID and be screened before entering into tenancy agreements. The same applies to tenants. While most people will not be affected, these steps are now a legal requirement.
Failure to comply can result in heavy penalties for agents and landlords. That’s why it’s important to work with professionals who understand and follow these rules carefully.
At Belvoir Stoke-on-Trent, we take financial sanctions compliance seriously. Our systems are already in place to ensure the required checks are carried out thoroughly and promptly.
If you’re unsure about how these new rules affect you, get in touch with our team. We’re always happy to explain the process and ensure you’re covered.
