Home owners are being warned yet again about scams where criminal groups target empty properties to apply for a mortgage or loan.
The scams are not new and the reason for the timing of yesterday’s warning is unclear, but the National Fraud Intelligence Bureau’s Proactive Intelligence Team, which is part of the City of London Police, is warning home owners that it has information showing criminal networks identifying empty properties by using names on published obituaries and carrying out research on the Land Registry.
Once a suitable property is discovered the criminal group then organise for fake documentation to be produced and register on the electoral role and with utility providers, an alert from the NFIB said.
The NFIB warned: “The group tirelessly work through the legal hurdles until the funds are released by the organisation, whilst the innocent party has no idea a crime has taken place.”
It highlights four situations when fraudsters can also take advantage:
– Owners are absent.
– There are buy-to-let landlords.
– Owners are living abroad.
– Elderly people don’t live in their properties for reasons such as long-term hospital or residential care.
Owners who are concerned their property might be subject to a fraudulent sale or mortgage can alert the Land Registry’s Property Fraud Line on 0300 006 7030.
Home owners are also being urged to sign up for Land Registry’s free Property Alert service so they will receive a notification if someone tries to take out a mortgage on their home.
One area where the land registry are doing great work. The property alert service great needs more advertising. One area where the Government could do more is significantly increase the sentences for ALL scammers as this type of crime is all too common. I always advise my BTL clients to sign up for this service.
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Presumably this is only an issue for unregistered properties.
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It applies to registered properties.
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