Could your property be at risk of fraud?

Fraud in the property sector is a larger problem than many people realise.  Fraudsters generally aim to steal property by transferring its legal ownership. Alternatively they might take out a fraudulent mortgage on a property and then leave the owner saddled with the debt.

Who is most at risk?

Your property is potentially most at risk if you have no mortgage on it, if it is vacant or rented out, if you are not resident in the UK, or if your ID has been stolen. Properties without recent land registry activity are also targeted because fraudsters believe that you are less likely to notice what is happening.

How is property fraud carried out?

The fraud generally starts with identity theft. Stolen documents or personal information are then used to pose as the owner of a property.  Fraudsters then change existing documents or create new fake ones, perhaps pretending to remortgage or sell a property.  These are then submitted to HM Land Registry to change the ownership of the property for the fraudster’s benefit.  This is often followed by a quick sale before anyone notices.

How can you protect yourself?

Between 2009 and 2023 HM Land Registry prevented more than £340 million of property fraud but there are various steps that property owners can take to reduce their individual risk of being the subject of fraud.

Is your property registered?

The starting point is to be sure that your property is registered with HM Land Registry.  Property that has been bought or sold since 1990 will be registered, but property that has been owned by the same person for several decades may still not be registered.  Unregistered property is at greater risk from fraudsters.  A property that is unregistered relies on hard copy deeds to prove ownership which can also cause problems if the deeds are lost or damaged.  You can check whether your property is registered at www.gov.uk/search-property-information-land-registry .

Sign up to the Property Alert service

HM Land Registry encourages property owners to sign up to their free Property Alert service. If certain types of activity are spotted in relation to the property you are monitoring, you will receive a message alert. Most of the messages will be about a genuine change that you have made, such as new mortgage details, but if you are alerted to a change you do not recognise then you will be able to investigate quickly.  You can sign up at www.gov.uk/property-alert and then make sure that you keep your details up to date so that you can be contacted quickly and easily.

Getting a restriction to stop activity on your property

It is possible to put an anti-fraud restriction on the title register. This would block any transfer or mortgage on your property unless a solicitor or conveyancer certifies that the application was made by you.

Check your credit report

Checking your credit report regularly to ensure that there hasn’t been an unexpected financial activity is a useful additional precaution.

At Fraser Dawbarns we are happy to help with all aspects of property registration, sales, purchases or disputes. Contact a member of our property team on  info@fraserdawbarns.com.

How To Contact Us:

To contact a member of our team, you can fill in our online enquiry form, email info@fraserdawbarns.com, or call your nearest office below. If you’d like to speak to a member of our team at one of our offices across Norfolk and Cambridgeshire, visit our offices page.

Wisbech: 01945 461456

March: 01354 602880

King’s Lynn: 01553 666600

Ely: 01353 383483
Downham Market: 01366 383171

This article aims to supply general information, but it is not intended to constitute advice. Every effort is made to ensure that the law referred to is correct at the date of publication and to avoid any statement which may mislead. However, no duty of care is assumed to any person and no liability is accepted for any omission or inaccuracy. Always seek advice specific to your own circumstances. Fraser Dawbarns LLP is always happy to provide such advice.