The Land Registry has stopped 136 fraud cases on property between March 2014 and September 2015, worth £60 million. How? Their free to register Property Alert System, allowing you to sign up and receive property alerts for up to 10 properties that you own in order to prevent fraudulent activity.
By November 2015, 27,000 homeowners signed up to this service, and for good reason. In the first 6 months of its launch, the Land Registry sent out 505 alerts relating to potential threats to property. This is all to prevent property fraud, whereby Fraudsters may steal someone’s identity and attempt to acquire ownership of a property by using forged documents. The fraudsters could then raise money by mortgaging the property without the owner’s knowledge and later leaving with the money.
Being such a simple (and free!) service, it is highly recommended that you register, even if just for peace of mind. All you will need is an email address and the postcode or title number of the registered property to sign up, and following this you will receive email alerts notifying you of any suspicious activity or if anyone attempts to register anything on your title.
This is not the only step you can take to protect your properties. Ensuring the Land Registry has up to date contact details means they can reach you easily, and by ensuring that the property is registered, you may be compensated if you do become a victim of fraud. However it must be noted that the Property Alert system is the best and most efficient way to stop fraudsters in their tracks early on.
With this service, you really have nothing to lose. It’s an extra level of protection on your property against fraudulent activity, without which many would be unaware was going on. To set up your property alerts, go to https://propertyalert.landregistry.gov.uk/ or call 0300 006 0478.
If you have any queries regarding the information in this article then Talk to Tollers call 01604 258558.