Fraud - Coming to a Home Near You!
We all think that being a victim of fraud is something that happens to other people: a remote tragedy that affects only a minority...yet with the Land Registry paying out over £26 million in claims for fraud last year, the risk of being a victim of property fraud is greater than ever. We may fear being burgled and having our possessions stolen but what if the thief actually steals your house (and we don't mean the roof tiles or lead)? The legal title to your house can be stolen and for most people the legal title to a property is their most valuable possession.
In the last 5 years, the Land Registry has prevented frauds on properties amounting to more than £66 million. In a recent case, two fraudsters managed to pocket £50,000 by selling an empty home they didn't own. The fraud was spotted before the change of title could be registered but the fraudsters got away with the money and are still wanted by police. Read more...