This quick little tip takes no time at all to implement and could save you £££ (plus a headache)! Here’s why Land Registry Property Alerts are important.
(2 minute read)
This week’s tax tip explains:
- How fraudsters can target your property
- What Land Registry Property Alerts are
- How these alerts protect you and your property
How Fraudsters Target Your Property
The Land Registry are encouraging property owners to set up alerts to protect themselves against potential property fraud. This warning comes amid increasing rates of property title fraud.
Fraudsters have become increasingly sophisticated in the digital age. They use stolen identities and fake documents to give themselves ‘ownership’ of your property.
Once they have the property, they can raise mortgages against it or even sell it.
Property owners can do very little when the scam is finished. Victims sometimes lose their homes for good and can only claim compensation from The Land Registry.
This means it’s essential for homeowners to be cognisant of danger and take precautions against falling victim.
Fraudsters tend to target properties where the owner may be more hands-off. For example, vacant homes, buy-to-lets and those not on the Land Registry.
These properties tend to be more vulnerable because the owner is less likely to notice the fraudulent activity until it is too late.
Protecting yourself from fraud can be extremely difficult, but there are some very simple measures you can take for peace of mind. Land Registry Property Alerts are easy to implement and have lasting benefits once set up.
What are Land Registry Property Alerts?
Land Registry Property Alerts are very simple. It’s a free service that allows you to monitor activity relating to your properties.
For example, you may you can set it up to e-mail you whenever a document is submitted online.
This is a great way to make sure that you’re notified of any suspicious activity relating to your property.
You can sign up online or over the phone. It’s easy to register your property with the Land Registry if it is not already registered.
Once signed up, you can get alerts from up to 10 properties, which is great news for those who own multiple properties.
There’s no requirement that you own the property to sign up, which means you can manage someone else’s property. For example, a vulnerable friend who may be more susceptible to falling victim to fraud, or an ageing parent who needs extra care.
The service allows you to act quickly to stop fraud in its tracks.
Our team have years of experience in helping our clients manage their property taxes. If you’re looking to boost your portfolio, we can help!
Kind regards Ilyas