Your property is probably the most valuable asset you own so it’s important to protect it from the risk of fraud. Our experienced legal professional, Nicola Lowe explains property fraud and how to reduce the risk of becoming a victim.
What is property fraud?
Fraudsters can and do target properties for fraud. By impersonating and trying to sell or mortgage your property, leaving you to deal with the consequences. Fraud of all kinds is on the increase, so it’s important you do what you can to protect yourself.
You are more at risk if your property:
- is rented out
- is empty
- is mortgage-free
- isn’t registered with Land Registry
How can you reduce the risk of being a victim of property fraud?
- Sign up to the Land Registry’s free Property Alert service– they’ll notify you of certain applications affecting your property including, mortgage or change of ownership.
- Ensure your property is registered with the Land Registry – this ensures you are compensated if you are a victim of fraud and suffer financial loss.
- Apply for a restriction to help prevent forgery– this stops any activity on your property, such as a transfer or a mortgage, unless a Conveyancer or Solicitor certifies the application was made by you.
For further information please contact our Conveyancing team.