50,000 join Land Registry’s property fraud service

Over 50,000 people have now signed up for Land Registry’s Property Alert service.

Related topics:  Finance News
Rozi Jones
5th December 2016
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The service helps people to detect fraudulent activity on their property by sending them email alerts when there is certain activity on the property being monitored, such as a mortgage being taken out against it.

The Land Registry says property fraud is most commonly committed by stealing a homeowner’s identity and selling or mortgaging the property without their knowledge.

Property is at a higher risk of fraud if it is rented out, empty, mortgage-free, or isn’t registered with Land Registry.

Since 2009, Land Registry has stopped fraud on properties worth more than £92 million.

Alasdair Lewis, Director of Legal Services, said: "Property is usually our most valuable asset so it’s important to protect it from the ever-increasing risk of fraud. Land Registry is doing all it can to detect and prevent fraud but no system can be 100 per cent fraud-proof, which is why we urge people to follow our advice about protecting themselves from property fraud, including signing up for Property Alert."

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