The Land Registry has launched a property alert service in a bid to fight property fraud.
The new service allows owners to register a total of three properties for monitoring, and any applications made to the Land Registry to change the register or requesting an official search will be flagged up to the registered owner with an email alert.
Owners can then judge if the activity is suspicious and act immediately if they feel they may be the victims of fraud, e.g. if a bank lodges a search on the owners property without them having applied for a mortgage.
The land registry already has an award-winning Counter-Fraud unit that works closely with the police and relevant agencies, successfully stopping fraud on properties with a combined value of more than £62 million in the past five years.
The service is the latest measure by the Land Registry to combat property fraud and builds on the Property Fraud line that was set up in 2013, which has seen over 1,000 people receive assistance.
The properties flagged as at a high-risk of fraud are empty properties, those that are involved in familial disputes or changes, tenanted properties where the owner lives elsewhere and properties without a mortgage, the last one making up nearly half of all registered residential properties.
Alasdair Lewis, Director of Legal Services, said: " Following a successful trial of Property Alert, we hope that many homeowners will want to sign up for this new free service to help them protect what is probably their most valuable asset.”
To use the service, set up a free online account with the Land Registry at: http://www.landregistry.gov.uk/propertyalert.#sthash.ViCU0Fpx.dpuf
or call 0800 678 1678 to register.
