Identity fraud in house sales is something that the UK government wants to avoid – and an ID1 form is a method of preventing this. Introduced by the government several years ago, this document confirms the identity of someone to the Land Registry.
The form must be completed before the exchange of contracts occurs for the sale of a house – and is usually required between private individuals during one of the following transactions:
- Transfer of land or mortgage
- Transfer, surrender or grant of a lease
- Registering, discharging, or release of a mortgage
- Discharge of land
- Change of name
- Change of address
Please keep reading our blog below for more information about the ID1 form and why it is important in the UK.
What is involved with an ID1 Form?
The ID1 form was created to establish the identity of any private individual involved with a property transaction. Some of the key pieces of information that you need to fill out on the document includes:
- Full name
- Date of birth
- Current address
- Period of time at current address
- Any other addresses in the past 5 years
- Contact numbers
- The type of application
- Title number
- Property address
A conveyancer will typically then confirm this person’s identity – although, the Land Registry, or a chartered legal executive, can do this too.
An application for a property transaction will usually be turned down if the form is filled out incorrectly. This makes it particularly important that the information is accurate.
Is an ID1 Form the same as a ID2 form?
No, not exactly. While private individuals need to fill out an ID1 form, the ID2 form is used for corporate bodies involved in a property transaction. The ID2 form will ask for more details about the company, rather than about a specific person. Although, Directors of the company may need to fill out their own form, too.
This is an important difference that you should be aware of to ensure you complete all your paperwork correctly.
When is an ID1 Form not required?
According to the UK government website, you do not need an ID1 form if the value of the land being transacted is less than £6,000.
If your transaction involves land, without any property on it, then you may feel slightly unclear about whether it meets this threshold. In this instance, getting an independent valuation will hopefully provide clarity.
How long is an ID1 Form valid for?
An ID1 Form is valid for 3 months. You should therefore complete this document not long before the deal is set to take place – otherwise, it may expire, and you will have to fill in another one.
Why was the ID1 Form brought in?
The ID1 form was brought in to combat fraud surrounding property or land transactions. If a person is not being represented by a conveyancer, or if title deeds have been lost or destroyed, it is crucial that proof of identity is provided so the registration can go ahead.
How much does an ID1 Form cost?
You can download an ID1 form for free from the UK government website. However, if you want to verify your identity, you may need to pay – for example, a solicitor usually charges at least £60 for this service, and usually considerably higher.
What can you use to verify your identity?
There are three main types of documentation that you can use to confirm your identity:
- Passport
- Driving licence
- Biometric Residence Permit
You may also be able to use any two of the following: a bank statement within 3 months; a utility bill within 3 months; a council tax statement for the current year; or a mortgage statement for the year just ended.
Verification of identity while based overseas
If you are currently living overseas but want to verify your identity with an ID1 form, you should fill out Section B of the document. Your identity will then need to be verified by a solicitor or notary public from the country where you live.
How to value land
Getting land valued is slightly more complicated than valuing a house, mainly because there are far less organisations that offer this service. You should seek an independent expert with experience in your location for this role, as it helps to make sure that the figure they quote is accurate.
Do I need a solicitor for an ID1 form?
No, you can fill in an ID1 form on your own without the support of a solicitor. If it is your first time doing so, however, or if you feel nervous about the process, then it might be advisable to have a legal expert by your side for support.
If you want to get a cash offer on your property from cash house buyers, then contact We Buy Any Home today.
