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Property fraud is where someone attempts to acquire ownership of a property which is not their own, either by using a forged document to transfer it into their own name. They can also do this by impersonating the registered owner. They usually raise money by mortgaging the property without the owner’s knowledge, take the mortgage money and disappear without making any payments, leaving the real property owner to deal with the consequences.
Who is at Risk?
• Properties owned by a landlord such as buy to let properties
• Where the property is not owner-occupied for the whole of the year
• Where the property owner is in a residential care home or has just passed away
• Properties which are currently mortgage-free
*information taken from information supplied by HM Land Registry
The land registry does have measures in place to try to combat this, but how can we help ourselves?
• Ensure land registry have your up to date address, as should anyone try to make an application relating to your property, the land registry will write to you at this “address for service”
• The land registry can hold up to 3 postal addresses for the owners of a property, this includes an email address and an address abroad.
• Updating your contact details is free
• This can be done by completing a Change of Owner’s contact details form COG1 and submitting this to the land registry. You can download the form here: Form COG1
• You can also set up an email alter which will send you an email when certain events occur ie official land registry search against your property or an application for registration of either change of ownership or legal mortgage. You can monitor up to 10 properties at a time.
• Property alert link: Set Up an Alert
