Property scams are on the rise. There are many reasons for this and HM Land Registry relying on electronic Deeds only, rather than hard copies, is one of the contributory factors.
The last 12 months have seen several high profile scams, largely in London. This will spread to the provinces. A common scam involves property owners and innocent buyers falling victim to rogue tenants posing as owners. The tenants take elaborate steps to convince Estate Agents and solicitors that they are the Landlord and lawful owner of a property by fraudulently assuming the identity of the true owner.
There is an easy solution to this problem for properties lying in England and Wales. HM Land Registry have introduced a free ‘Property Alert’ service. It is described by HM Land Registry as
‘an award winning free property monitoring service aimed at anyone who feels a registered property could be at risk from fraud.’
Once you have signed up to the service, you will receive email alerts when certain activity occurs on your monitored properties, allowing you to take action if necessary.
Using the service is easy. A property owner simply creates a new account. Owners can register up to 10 properties. The Land Registry will verify the account and the owner is then be notified by email when official searches and applications are received against a monitored property. The owner is alerted to suspicious activity before the scam is completed.
For further information follow the link or contact details below. https://propertyalert.landregistry.gov.uk/ firstname.lastname@example.org
Tel 0300 006 0478