In light of recent cases in relation to property fraud, HM Land Registry has implemented some new tools and changes to help keep your most valuable assets safe and protected from fraud.
The Land Registry states you are more likely to be at risk from property fraud if any of the following applies to you:
- You have been a victim of identity theft
- You rent your property
- Your property is vacant
- The property is not registered at the Land Registry
- You do not have a mortgage on the property
- You live overseas
One simple preventative measure you can take is to keep your contact information up to date at the Land Registry. If anyone were to try and amend your title at the Land Registry, the Land Registry would write to you informing you of this.
The Land Registry also has a new tracking tool that is free to use for up to 10 properties, which will alert you if anyone tries to alter anything on your title. This will not block an application but will simply send you an alert that an application to amend your title has been submitted, allowing you to arrange to take any appropriate action.
Another preventive option you could consider would be to place a Restriction on the title to your property. Restrictions come in a variety of forms and are often registered when a Lender has a charge over a property. You could simply enter a Restriction which stops a sale or mortgage of the property unless a Solicitor certifies that the application has been made by you.
Please see this link for more details and information and the steps you can take to prevent property fraud https://www.gov.uk/protect-land-property-from-fraud?utm_source=social&utm_campaign=fraud&utm_medium=linkedin_page&utm_content=rented_out
If you require assistance with entering a Restriction, or any other Conveyancing matter, please do not hesitate a member of our Emery Johnson Astills Conveyancing Team who will be more than happy to help.