The number of homeowners signing up to protect themselves against property fraud - via alerts from HM Land Registry - has increased 30 per cent!
A total of 178,086 homeowners registered for the free HM Land Registry property alert service in 2022, up from 135,624 in 2021. There has been a fall so far this year, with 34,821 signing up in the first six months of 2023. However, this suggests that the annual total will still far surpass 2020's 46,043 sign-ups.
The service alerts homeowners if there is any suspicious fraudulent activity concerning the ownership of their property - in particular if someone applies to change the register of the property.
Olly Thornton-Berry, of Thirdfort, said: 'Property fraud is a major risk, particularly as fraudsters become increasingly sophisticated, and the economic climate remains challenging. There's been an explosion in fake ID documents, and we've seen some high profile examples of fraudsters acquiring ownership of properties using forged documents to impersonate registered owners.'
He explained that empty properties, tenanted properties and those without a mortgage are particularly at risk.
HM Land Registry's Property Alert service offers a quick and simple way for homeowners to protect themselves against property title fraud. Property owners can sign up in minutes and can register up to 10 properties. Email alerts are sent when HM Land Registry receives an application to change the register as well as for official searches. This enables property owners to judge whether the activity is suspicious and if they should seek further advice.
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