HOW PROPERTY FRAUD HAPPENS
How Property Fraud Happens!
The most vulnerable homes that can be subject to fraud are properties that are left empty (whether being refurbished or vacant), rented out and also mortgage free properties are at high risk. However, there are still risks of property fraud to home owners with a mortgage.
Property fraud and Identity Fraud are closely related, because often it starts with someone forging official documents. Also these con artists often make fake identification to pretend to be the owner.
How do the fraudsters get the information?
All properties in the UK are registered on the Land Registry. Anyone can freely search this database via the Land Registry website to find out the name(s) of the owner(s) and other supporting information. The information held on the Land Registry can even include images of the owner’s signature, thus paving a clear path for property fraud.
How to protect your property
It is good to know that you can protect your property from property fraud by following the following steps:
Anti-Fraud Restriction Registration You can register an “Anti-Fraud Restriction” on your property with the Land Registry.
This extra step alone can deter con artists who want an easy route to carrying out property fraud.
In addition it ensures that the Land Registry cannot register any activity against your property unless a solicitor has had official sign off by you – the home owner.
Receive Anti-fraud alerts You can also sign up to receive an email every time there is a change to the data held by the Land Registry on your property. This does not stop any changes being made, but can make you aware of changes so that you can quickly take any necessary action.
Prevention is the best cure Taking legal action to after finding yourself subject to property fraud can be expensive and laborious. Therefore to avoid the possible heartache we suggest taking measures to protect your property from property fraud. Hunter Ashley Sales & Letting has partnered with a specialist firm to provide Anti-Fraud Restriction services to our customers. If you would like to know more about Anti-Fraud Registration please give us a call on 01753 316 000 Or drop us a quick email at: info@hunterashley.co.uk