COVID-19: Property owners advised to stay fraud aware during pandemic
HM Land Registry has issued a warning for property owners to be aware of potential fraud during the coronavirus pandemic.
Fraudsters may take advantage of the crisis by attempting to sell or mortgage a property they do not own. Property fraud can affect private homeowners, landlords and owners of commercial property.
A fraudster may pretend to be a property owner, buyer, borrower, mortgage lender or conveyancer in order to obtain money from selling a property or receiving mortgage funds.
High value, empty or tenanted properties are most at risk of fraud, as well as homes without a mortgage. Owners particularly at risk include unregistered owners, sole owners, absent owners, landlords, new owners who have inherited a property from someone who has passed away and long-term owners with higher equity in their property.
HM Land Registry’s free Property Alert service enables property owners to monitor any attempts at property fraud. Simply sign up online to receive alerts about applications to change the register for your property. You can also register for alerts for properties belonging to vulnerable family members or friends.
For further information and advice, contact our conveyancing team on 0113 264 4414 or email conveyancing@emsleys.co.uk
