How can I protect myself from being at risk of property fraud?
As a Property owner you should always be aware of the risk of property fraud being committed against you! The properties thought to be most vulnerable to fraud are those that are tenanted, mortgage free, vacant or being refurbished; as an owner you should be aware of the risks and know what steps to take to limit the chance of being targeted.
Incidents of Land Registry fraud, where fraudsters attempt to acquire ownership of a property by impersonating the rightful owner and taking a mortgage out in their name have increased since paper deeds ceased to be issued and Land Registry information moved online.For only a small fee, information held by the Land Registry can be accessed from the Government website allowing anyone to find out who owns a property, their correspondence address and lender details.
The Land Registry and Action Fraud offer a free Property Monitoring service that will alert the homeowner if there is certain activity on the Land Registry account- please be aware that this will not automatically block the activity but will alert you to take any neccessary action- make sure you update your contact details if they change and remember to keep the service up to date with addresses of all properties that you own!
To sign up to these alerts please visit Land Registry Alert Service.
3rd May 2016
DISCLAIMER: Neither ludlowthompson nor their ‘experts’ take any responsibility for any action or loss incurred by readers of these pages. The reader acts on advice at their own risk. Answers to questions are not exhaustive. Financial advice must always be sought from a professional financial adviser
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