Statement of Information Form Template for England and Wales

A Statement of Information Form is a key document used in the UK property market to verify the identities of buyers and sellers during conveyancing. It helps solicitors and licensed conveyancers comply with anti-money laundering regulations by collecting essential details about the parties involved in property transactions.

Property lawyers in England and Wales require this form to confirm important facts about their clients, including current address history, employment details, and funding sources for the purchase. The form plays a vital role in preventing property fraud and ensuring transactions meet legal requirements under the Money Laundering Regulations 2017.

Complete a Statement of Information Form at the start of any property purchase or sale in England and Wales. Your solicitor needs this form before beginning the conveyancing process, typically right after you've accepted an offer or had your offer accepted on a property.

Fill out this form early to avoid delays in your transaction. It's especially important when buying with a mortgage, as lenders require thorough identity checks. Property lawyers must gather this information to meet their anti-money laundering obligations, and completing it promptly helps them start their due diligence work immediately.

• Statement of Information Forms come in two main versions: a standard residential form for typical house purchases and sales, and an enhanced commercial form with additional sections for business transactions and complex ownership structures.
• The residential version focuses on personal details, employment information, and funding sources, while commercial forms include extra sections for corporate structure, beneficial ownership, and business activity verification required under stricter due diligence standards.

• Property Buyers and Sellers: Must complete the Statement of Information Form with accurate personal details, financial information, and source of funds.
• Conveyancing Solicitors: Request, review, and verify the information provided on these forms as part of their due diligence process.
• Estate Agents: Often introduce the form requirement to clients and may assist in initial completion.
• Mortgage Lenders: Rely on the verified information when assessing loan applications and conducting their own due diligence.
• Money Laundering Reporting Officers: Use these forms to ensure compliance with anti-money laundering regulations.

• Personal Details: Gather full legal names, dates of birth, and at least three years of address history for all parties involved.
• Employment Information: Collect current employer details, job title, and length of employment or self-employment records.
• Financial Documentation: Prepare bank statements, proof of deposit source, and mortgage offer details if applicable.
• Identity Verification: Have valid photo ID and recent utility bills or bank statements ready for address verification.
• Property Details: Include the full address of the property being bought or sold, along with the agreed purchase price.

• Personal Declaration: Clear statement confirming the truthfulness of information provided, signed and dated by all parties.
• Identity Section: Full legal names, dates of birth, nationality, and current contact details of all parties.
• Address History: Comprehensive list of residential addresses for the past three years, with no gaps in timeline.
• Financial Information: Details of purchase funds origin, banking relationships, and transaction specifics.
• Proof of Identity: References to supporting documents provided for anti-money laundering compliance.
• Data Protection Notice: GDPR-compliant statement explaining how personal information will be used and stored.

A Statement of Information Form differs significantly from a Release of Information Form in both purpose and application. While both handle personal information, they serve distinct legal functions in property transactions.

• Purpose and Timing: Statement of Information Forms are mandatory at the start of property transactions for anti-money laundering checks, while Release forms authorize sharing specific information with third parties.
• Information Scope: Statement forms collect comprehensive details about identity, finances, and property purchase specifics. Release forms typically focus on authorizing access to specific records or data.
• Legal Requirements: Statement forms fulfill regulatory obligations under Money Laundering Regulations. Release forms primarily manage data protection and privacy concerns under GDPR.
• Duration: Statement forms are one-time documents for specific transactions. Release forms can remain valid for ongoing information sharing over defined periods.