Use The Property Alert Service To Help Prevent Property Fraud
There have been a number of cases recently where rogue tenants ‘sell’ the property they are living in and walk away with the proceeds of sale.
The tenants will hold themselves out to solicitors as owning the property by obtaining fake identity documents. The property is then sold, with the buyer obtaining a mortgage over the property – a property that they do not actually own.
If you are victim of this property fraud there presently appears to be little recourse against the solicitors, or any other third party. There are cases being heard by the Court of Appeal this year which may change the position but clearly it is vital that property owners are protected.
The Land Registry are advising that homeowners, especially absent landlords, should sign up to its Property Alert Service which sends out free notifications if certain activity occurs on a registered property. We would also advise that you ensure that your actual home address is stated on the Land Registry documents as your address for contact, rather than the property which is being let out.