Property fraud is when someone tries to steal your property or use it for illegal purposes without your knowledge. This type of fraud can happen if criminals manage to change the ownership details of your property or take out loans against it without your permission, so let’s look at some simple ways to keep your property safe from fraud.
1. Ensure your property is registered with HM Land Registry
In the UK, registering your property with HM Land Registry is one of the most important ways to protect it. Once your property is registered, you have a record of ownership, making it harder for someone to sell or mortgage your property fraudulently.
2. Set up a property alert service
HM Land Registry offers a free property alert service that will send you a notification if any activity related to your property is detected, such as someone trying to change the ownership details. You can also monitor a property you don’t own, such as one owned by an elderly relative.
3. Use a restriction to protect your title
A Form LL restriction is a type of protection you can place on the title of your property through HM Land Registry. If you place a Form LL restriction, a solicitor or conveyancer will need to confirm that any sale or transfer of the property has been authorised by you. By applying a Form LL restriction, you are adding an extra layer of security to your property, making it harder for criminals to commit property fraud.
The Form LL restriction< is particularly useful if you don’t live in the property, such as when it is rented out or unoccupied. These types of properties can be more vulnerable to fraud.
4. Keep your contact details updated
It is important to keep your contact details updated with HM Land Registry. This includes your address, your phone number, and your email address. If you move to a new address and don’t update your details, important notifications about your property could go to your old address.
