Property fraud unfortunately, is on the increase, and case law suggests that property owners who are not in occupation are at a greater risk of identity fraud. In a recent case, an imposter used fake identity documents to sell a vacant property, and in another case, a mortgage application was made by a fraudster against a property which was being rented out by the owner.
To reduce the risk of fraud, the Land Registry provides a service called “Property Alert”. This is a free service open to property owners based in England and Wales.
Once a property owner has signed up to the service, they will receive an email which will alert them to any activities that occur on that property. Up to 10 properties can be monitored and this would allow home owners to take appropriate action in good time to prevent any fraudulent activities in order to protect their interests. All alerts are sent via email when either searches are conducted against the monitored property, or any applications are received that deal with the property.
Although Property Alert will not automatically stop fraud from happening, it is an useful early warning of any suspicious activity.
If you would like discuss this matter further, or would like advice in relation to any property matter, or a quote in respect of your conveyancing, please contact our experienced Associate Solicitor Llinos Jones on 01267 239190 or alternatively email her on firstname.lastname@example.org.