July Is Land Registry Scam Awareness Month
Do have a property you do not reside in 12 months a year? Live abroad? Registered owners reside in a care home? Have no mortgage? If the answer is yes then you need read on.
July is Land Registry scam awareness month. The Land Registry are trying to make people more aware of ways in which they can protect their property from scams/fraud. https://www.gov.uk/protect-land-property-from-fraud
The Land Registry is the central store of all information about registered land in England and Wales. The main reason for the introduction of compulsory registration in the 1970/80s was to combat fraud. Now any transfer of land is recorded at the Land Registry.
Since 2009 the Land Registry state they have prevented 254 fraudulent applications being made. They state the value of the applications had they been successful would be in excess of £117 million.
Property fraud is complex. Due to the use of technology clients do not always attend their solicitors to sign contracts. Clients who buy property do not always meet the sellers in person. Could someone purport to be you and sell your house without you knowing? Fraudsters are findings ways to evade detection.
The Land Registry have a fraud line available Monday to Friday and invite people to contact them by telephone 0300 006 7030 or email email@example.com if they have any suspicions.
For most people their house is their most valuable asset. Protect it. If your property is not yet registered (usually people who have owned their property before 1975 and have no mortgage on it) it may be a consideration to apply for voluntary registration. Tollers can assist with this. Once the property is registered you can then protect yourself as discussed above.