Is Your Property Protected Against Fraud?

What is property fraud?

Property fraud, to give a basic definition, is when someone who isn't the owner of the property 'acquires' ownership through various methods, without the real owner's knowledge. The purpose is to sell the property or remortgage it to release money. Before the owner knows what's happened the fraudster has taken off with the money.

Who is most at risk?

Buy to let properties, empty properties and unencumbered properties (those without a mortgage against them) are those most at risk.

How to protect against property fraud

The Land Registry offers a free service which sends an email alert to the owner if anyone applies to change the register of your property. You can also request to have a restriction against the property title so changes to the register can't be made unless a solicitor certifies that the application was made by the actual owner. Find out more about the Land Registry's fraud alert service.

Published on 21 March 2015

Source Trinity Sales Wakefield

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