For many years now we have been battling with the growing risk of fraud, especially in the context of property transactions. There have been horror stories of people imitating genuine owners and completing the sale of a property before disappearing with the sale proceed. Since 2005 there have been over 675 successful property frauds amounting to a value of over £70 million.
At Wollens we adhere to the strictest guidelines and procedures outlined by the Law Society, Solicitors Regulation Authority and the Land Registry. We also work with online providers to help verify clients identity. However there is still things you can do to keep you and your property safe.
Associate Solicitor and property expert Mark Iddles looks at this issue.
Mark Iddles, Associate Solicitor.
Fraudsters are growing increasingly more sophisticated every day and the ongoing situation with covid-19 seems to have given them even more opportunity to exploit the system. Marks advice is;
- Be sure to keep your name and registered addresses updated on any official document such as a passport or drivers licence.
- Be sure to update your registered address at the Land Registry so that it makes it harder for anyone to impersonate you.
- Make use of the Land Registry “property Alert” function and be sure to report anything that is suspicious.
We all have a part to play in preventing fraud and by working together we can ensure that this trend does not continue. If you feel that you need to review or update your details on your registered title, for example if you live at a separate address or own a buy to let, please get in touch and we can help.
Contact Mark Iddles on [email protected]
or call 01803 225180
for other enquiries contact us : [email protected]