Property fraud can take the form of the property being mortgaged or sold without your knowledge and consent. There are certain measures you can take to try and protect yourself against property fraud.
Anyone who owns a home, or is in the process of buying a home could potentially be targeted by scams explains Jay Asghar, conveyancing lawyer at Hancock Quins Solicitors in Watford, Hertfordshire, However, some homeowners are more at risk than others. The Land Registry have identified high risk persons as follows:
- someone who has had their identity stolen;
- someone who rents out their property;
- someone living overseas;
- someone with empty property;
- someone who does not have a mortgage on their property; or
- someone with property that is not registered with the Land Registry.
In order to protect yourself you can do the following:
Track changes to the register
You will need to sign up to receive property alerts if someone applies to change the register of your property, e.g. someone tries to obtain a mortgage against your property. There is currently no charge for these alerts.
Put a restriction on your title
You can stop the Land Registry registering a sale or mortgage on your property unless a conveyancer or solicitor certifies the application was made by you.
For further advice on how to protect yourself from property fraud or any other property law matter contact Jay Asghar on 01923 650884 or email firstname.lastname@example.org.
The contents of this article are intended for general information purposes only and shall not be deemed to be, or constitute legal advice. We cannot accept responsibility for any loss as a result of acts or omissions taken in respect of this article.