Land Registry’s Property Alert service has now been signed up to by over 50,000 people.
Through email notifications, the service will alert individuals when certain activity in relation to their property is carried out e.g. a mortgage being taken out against it.
Stealing the identity of a homeowner is the most common method used to commit property fraud, according to Land Registry. This enables the criminal to mortgage or sell a property without the owner’s knowledge. Recent cases illustrate how easily this can be done, especially when the property is mortgage free.
If the property is rented out, empty or not registered, it also becomes more vulnerable to property fraud.
Land Registry has stopped fraud on properties worth over £92 million since 2009.
Commenting on the importance of protecting property from fraud was Alasdair Lewis. The Director of Legal Services expressed the importance of the Property Alert service and the need for clients to follow Land Registry’s advice: “Property is usually our most valuable asset so it’s important to protect it from the ever-increasing risk of fraud. Land Registry is doing all it can to detect and prevent fraud but no system can be 100 per cent fraud-proof, which is why we urge people to follow our advice about protecting themselves from property fraud, including signing up for Property Alert.”
