Protect yourself from Property Fraud
Property Fraud in the UK is rare, however cases are rising, so how can you protect your property?
Property Fraud is essentially where a criminal tricks others into believing they are the true owner of a home and then when it is sold they take the money from the sale. The new owner may acquire the title to the property legitimately which leaves the original owner suffering significant loss.
Properties most at risk
- Empty houses
- Rental properties
- Unmortgaged properties
- Homes left vacant for long periods of time
In these types of properties it can take the owner a long time to find out their property has been sold and by the time they have realised, the fraudsters have their money and have disappeared.
How to protect your property
1) First check your property is registered with Land Registry: Click here and follow the instructions to do this.
2) If your property is not registered, follow the information online to do this.
Make sure the contact information land registry hold for you is correct. Do they have the address where you live and not for the property address itself?
3) Sign up for the free Land Registry Property Alert Service – HM Land Registry - Property Alert
This is an easy process. Simply set up an account and add any property you want to monitor. The alert will send you an email when searches or applications are made against your property. You can monitor up to 10 properties. You could also monitor the properties of elderly family members on their behalf.
4) You can also place a restriction on the title deeds which will prevent HM Land Registry from registering a sale or new mortgage on the property without the certification of a conveyancer or solicitor. This service is free if you don’t live in the property, otherwise if it is your home there is a fee payable.
If you suspect Fraud on your property, you should report it to the Land Registry Fraud line on 0300 006 7030, action fraud and your local police station.
Should you have any queries in relation to this or any other property related queries please do not hesitate to contact us at the office. We are here and ready to help in any way we can.