Property & Mortgage Fraud - Land Registry Fraud
Easylawyers have commenced a new service to help property owners minimise the risk of their property being caught up in cases of financial fraud. This is part of the ongoing battle against property fraud by the Land Registry. They are encouraging owners of property in the UK to enter a standard form restriction on their property which prevents any sale being carried out without a solicitor or licensed conveyancer certifying that the identity of the person involved has been confirmed.
To use the service, UK property owners simply need to ensure their property is registered at the Land Registry and ensure their contact details are up-to-date. Pindoria Solicitors will then need to enter a restriction on the property, which requires us as your solicitor to certify they are satisfied that the person trying to sell the property is the true owner.
Easylawyers acts for a number of property investors and overseas buyers and owners. Properties which are most vulnerable to fraud are those, which are empty, tenanted or mortgage free.”
Individuals at higher risk of fraud, which is typically effected by impersonating the owner, are those property owners who are away from their property for long periods. This could be for reasons such investors, living abroad, investors, or someone in residential care.
Fraudsters target mortgage-free properties, especially those unoccupied by the owner. The criminals will impersonate the property owner and contact the Land Registry with forged documents to ask them to transfer legal ownership of the property into a different name probably of the criminal or someone linked to them. The fraudsters will even try to intercept a letter from the Land Registry will requires confirmation of the change in legal title.
The fraud is successfully perpetrated by the criminals with the change the name of the legal owner at the Land Registry of the property. They will then go on to sell the property or take out a mortgage on it, and then quickly disappear with all the fraud proceeds money before the true owner discovers what has been happening or could do anything about it.
Easylawyers is able to prepare the papers and register the necessary restriction for a fixed fee of £120 + VAT along with any Land Registry fees payable. Owner occupiers can also enter this restriction but they will have to pay a Land Registry fee of £50. groups the Land Registry has made the entering of this form of restriction completely free if you are not an owner occupier If you would like to take advantage of this offer please contact Yitendra Senghani on 0208 951 6959.