Safeguarding Against Fraud
Purchasing a property represents one of the most significant asset they possess. It can be sold or mortgaged to generate funds, making it an appealing target for fraudsters. The idea of having one’s home unlawfully taken and sold may appear far-fetched, yet it is a reality it may occur.
Do you need support in choosing the ideal mortgage?
We recognise how vital it is for you to secure the right mortgage. If you’re planning to move, we have the experience to help you make an informed decision. To learn more, give us a call on 028 4062 9999 or send an email to info@opesgroup.co.uk.
Illegitimately Transferred
Homeowners may not realise that the information stored with the Land Registry is accessible to the public via the Land Registry website. This includes potential fraudsters, who can easily discover property ownership details, the owner’s correspondence address, lender information, and even samples of the owner’s signature.
Properties that are owned outright, rented, or left unoccupied are often more vulnerable to property fraud. However, there are measures you can take to safeguard your property against being illegitimately transferred or mortgaged.
Receive Notifications
First and foremost, verify that the title deed information maintained by the Land Registry for your property is correct and current. You can then register to receive notifications if someone attempts to alter the register of your property, such as if an individual tries to secure a mortgage using your property. For further details, please visit HM Land Registry: https://propertyalert.landregistry.gov.uk/
While this service will not automatically prevent any changes to the register, it will notify you of any alterations, allowing you to take appropriate action. You can receive notifications for up to ten properties, and there is no charge for this service.
Property Restriction
You can prevent HM Land Registry from registering a sale or mortgage on your property unless a conveyancer or solicitor certifies that the application was submitted by you. Your conveyancer or solicitor may impose a fee for providing a certificate if required by a restriction on your property.
As a potential buyer, if you are acquiring a property that is not registered with the Land Registry, ensure that the seller provides adequate proof of ownership before any financial transactions occur.
What should you do if you suspect property fraud has occurred?
If you believe you have fallen victim to property fraud, you can reach out to the HM Land Registry property fraud team at: HM Land Registry property fraud team, email: reportafraud@landregistry.gov.uk, telephone: 0300 006 7030, available Monday to Friday, from 8 am to noon and 1:30 pm to 3:30 pm.
By taking a few straightforward steps, you can protect yourself and your family from fraud.