In this edition of "secrets of a conveyancer", 30+ years qualified solicitor Celia Perry shares some simple steps you can take to protect yourself from property fraud
Its a jungle out there
don't let fraudsters get the better of you
In these days of increasing property values, it should be no surprise that criminals are on the look out for opportunities to target these valuable assets.
Relevant to all property owners, but particularly to those with rental properties, a holiday home or executors managing a property that forms part of a deceased person's estate, here are six steps you can take to make sure you do not become a victim of property fraud:
Step 1: check and update Land Registry address for service
Check the title information Land Registry hold for your property to make sure your address for service is up to date so you do not miss any important communication about your ownership of the property.
Make sure you change your address for service each and every time you move.
You can even include an email address in addition to a postal address.
Find out more about updating your address for service on Land Registry's website at this link.
Step 2: inspect regularly
If you don't live at the property make sure you or some you trust inspects the property on a regular basis.
Recently a landlord only found out his enterprising tenant had put the house he was renting up for sale in his own name when the landlord drove past the house and saw a "for sale" sign outside...
Step 3: set up Land Registry property alert
Using just the title number of your property and an email address, Land Registry will allow you to monitor up to ten properties without any charge.
Once you have registered Land Registry will send you an email if there is certain activity or changes to the information Land Registry holds about the property.
It is worth knowing that you do not have to live at or own the property to use this service. If you have elderly relatives who own a property and are concerned they may be vulnerable, you can set up an alert for their property too. Land Registry will not tell the property owner that an alert has been set up.
Step 4: make an application for first registration
If you own a property where the title is not registered at Land Registry you should make an application for first registration.
Until a property is registered, Land Registry will not have any contact details for the owner. Giving Land Registry your details makes fraudulent activity more difficult.
An advantage of registration is that if you are an innocent victim of fraud and suffer financial loss you may be eligible for compensation from Land Registry.
Step 5: beware of emailed bank details
Emails are constantly under attack from fraudsters hoping to insert their own bank details in your communications to divert funds away from you.
Always check bank details before you send money by ringing the recipient on a number you have used before. Try devising your own set of "security questions".
Celia Perry
30+ years qualified residential property solicitor
Step 6: if you suspect it report it
If you suspect any fraudulent activity or an attempted scam contact the Land Registry on the dedicated fraud line 0300 006 7030 (Monday to Friday) or email Land Registry at reportafraud@landregistry.gov.uk and also report it to Action Fraud on 0300 123 2040 (24 hours).
Contact Julie West Solicitor
The Julie West Solicitor team have many years of property experience and can give you further guidance on other steps you can take to protect your property from fraud. Speak to one of our expert team today by calling 01372 383273.