Let the Property Alert service work for you
Six months after the launch of Land Registry’s Property Alert service, more than 12,000 people have signed up to the free service which provides an early warning of suspicious activity on someone’s property which could indicate property fraud.
What is Property Fraud?
There are many forms of property fraud, but the most common is for fraudsters to steal someone’s identity and attempt to acquire ownership of a property using forged documents. Scammers may also attempt to raise money by mortgaging the property fraudulently and then disappearing with the money, leaving the victim to deal with the consequences.
So what is the Property Alert service?
Property Alert exists solely to alert you of any suspicious looking activity regarding property in your name and allows you to monitor up to ten properties. Once you have signed up, you will receive email alerts when certain activity occurs on your monitored properties. If you want to sign up, you can do that here.
Once you’ve signed up, if you receive an alert you can then judge whether or not the activity is suspicious and if you should seek further advice. For example, if you receive an alert that a bank has lodged a search on your property but you haven’t applied for a mortgage, you may want to seek legal advice, contact Action Fraud, or contact the bank in question to tell them you are the owner and have not applied for a mortgage.
With the Property Alert service, investigations into the authenticity of the mortgage application can then begin much earlier in the process.
Further protect your identity by regularly checking your credit report
Fraudsters target property because it’s highly valuable; and it’s important to take steps to help your protect your identity. A good way to keep an eye on your financial information is by committing to check your credit report once a month. By keeping an eye on your accounts you can check that everything looks as it should do and you’ll be more likely to spot any potential fraudulent activity early on.
For more information on the Property alert service, Land Registry have created a short video explaining a little more about property fraud. In addition, this article gives you a brilliant breakdown of some extra steps you can take to protect your property from fraud.