Protect your property against property fraud
It is likely that your property is the most valuable asset which you own, so it's most important that you take all possible precautions to protect it from the risk of fraud.
Criminals most often target properties where there is no mortgage or where the owner lives elsewhere, such as where your home is empty or is let to a tenant, or where the owner lives abroad or in care accommodation. They may attempt to acquire title to your property by using a forged transfer or by impersonating the owner, in the hope of then selling it on before the fraud is detected.
A helpful safeguard is to ensure that your title is registered at the Land Registry. This is particularly important if you have a portfolio of properties – for example, those bought for investment or for letting purposes. We can check this for you if you are unsure, and if your title is unregistered we can apply for voluntary first registration on your behalf. The Land Registry will charge a fee for this, based on the value of your property. Once your title is correctly registered, you should then be entitled to compensation from the Land Registry if you become the innocent victim of fraud and suffer loss as a result.
It is also important to check that the contact details (or "address for service") which the Land Registry holds for you are completely up to date. This is because they may need to write to you when they receive an application affecting your property – such as from a neighbour wishing to register a boundary adjustment or a right over your property – and if your contact details are not correct this may not reach you. It is also possible to provide the Land Registry with up to three different contact addresses, including an email address and an address abroad. If you would like to check your contact details – or to add an address or update your existing details – please let us know. There is no Land Registry fee payable for this service.
Property owners who are particularly vulnerable – including those who do not live at their property – can ask the Land Registry to record a special note (known as a "restriction") on their registered title. This will ensure that they will not register a transfer or a mortgage of your property without first receiving consent from you or from the person you nominate (such as your Solicitor). The Land Registry charges a fee of £50.00 to register this restriction. A reduced fee of £25.00 may be payable on multiple applications. The wording of this restriction is very important, so please let us know if you wish to protect your property in this way.
If you would like any further information about the methods which may be available to help you protect your property, please do not hesitate to get in touch.
