Safeguard your properties against fraud; it’s a total no brainer!

As a property owner you are more at risk from the activities of fraudsters as you have more to lose.

There are very real risks and the Land Registry Property Alert Service has been set up to help you manage these risks.

Why consider this service?

Since 2009, HM Land Registry has prevented 254 fraudulent applications being registered by fraudsters. Attempts to “steal” property include selling or mortgaging your property without your knowledge.

How the service works

Using this service it is possible to monitor up to ten properties already registered with the Land Registry or those of a relative – you don’t even have to be the owner of a property to set up an alert.

An example of the type of fraud that can be countered by this service – as published on the gov.uk website – is reproduced below:-

Mr Mills rented out his property in England while he lived overseas. He realised that absent landlords are more at risk of property fraud, so he signed up to our Property Alert service.

Sometime later he received an alert email informing him that someone had made an application to register a mortgage on his property worth over £300,000. As Mr Mills wasn’t expecting this, he contacted our property fraud line. As a result of Mr Mills alerting us to the fact that the mortgage request was suspicious, we investigated and prevented the application from being registered once we realised it was fraudulent. As Mr Mills’ contact details were out of date, we advised him to update them so that if we needed to contact him in the future, he would be sure to receive our emails or letters.

As a result of signing up to Property Alert, Mr Mills was able to spot suspicious activity on his property and his prompt action in alerting us meant we were able to stop the fraudulent transaction from being registered.

To set up an alert fill in the online application at https://propertyalert.landregistry.gov.uk/.

Basic terms and conditions of the service are as follows:-

  • The property you want to monitor must be situated in England or Wales and registered with HM Land Registry
  • You must create a Property Alert account to use the service
  • You will receive a HM Land Registry email (please check spam inbox) to enable you to verify your email details
  • You must then sign into your account to add a property
  • Email alerts are sent when official searches and applications are received against a monitored property
  • If you receive an alert about activity that seems suspicious you should take swift action. The alert email will signpost you on who to contact.
  • You don’t have to own a property to set up an alert
  • The same property can be monitored by different people
  • Property, especially flats/apartments, can be registered with two titles. Blocks of flats are often owned by companies (Freehold), and the person owning the individual flat (Leasehold). When registering for this service please choose Leasehold Title for individual flats/apartments
  • Even if you are not a computer user you can still use the service. Call the Property Alert team on 0300 006 0478 and they will talk you through it.

 

Buy to let advice with THP

Find out more how THP can help Buy-To-Let Landlords or contact us here today at THP Chartered Accountants, with offices in ChelmsfordCheamWansteadSaffron Walden and London City.

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About Jon Pryse-Jones

Since joining THP in 1978, Jon Pryse-Jones has been hands on with every area of the business. Now specialising in strategy, business planning, and marketing, Jon remains at the forefront of the growth and development at THP.

An ideas man, Jon enjoys getting the most out of all situations, “I act as a catalyst for creative people and encourage them to think outside the box,” he says, “and I’m not afraid of being confrontational. It often leads to a better result for THP and its clients.”

Jon’s appreciation for THP extends to his fellow team members and the board.  “They really know how to run a successful business,” he says.  He’s keen on IT and systems development as critical to success, and he continues to guide THP to be at the cutting edge and effective.

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