How to protect yourself from fraud when making transactions with real estate in the UK?

Thousands of cases of fraud in transactions with real estate were registered in the UK

Six months ago we launched a new service – Alert Service the Land registry, aimed at preventing and preventing fraud in the property market in the UK. Since the launch of the project, more than 12,000 people joined the project. The service was launched with the aim to help people protect their most valuable asset – a house or apartment.

Since its appearance Alerts Service has become extremely popular. People who joined the community to share materials, videos and tips with your friends and neighbours, thereby contributing to spreading useful information.

If the Service receives a signal from one of the parties to the transaction that he has doubts about its legitimacy, the attorneys for the parties to conduct additional investigation to establish the identity of people making requests at the cadastral service and other organizations. In the case of confirmation of concerns, the deal’s off.

Different methods of fraud encountered in the residential real estate market. For example, a fraudster may steal the documents, identifying the person and then under pledge of property belonging to another person, to obtain a Bank loan using fake documents.

Over the past 5 years the Land registry and the UK prevented deals for £55 million pounds due to fraud. The recent case of fraudsters trying to sell property belonging to them and had to take a Deposit of £50,000 pounds. The staff of the Land Cadastre the UK have noticed signs of fraud and failed to register a deal, but the crooks escaped with the money , they are still wanted by the police.

All who wish to protect themselves from fraud in real estate, you can now register in the Land registry and free to control the transactions that affect up to 10 properties. In the case that application would be made on making changes to the registry, the registered owner of the property will be notified by e-mail. If it turns out that the property owner did not initiate the change, begin the investigation of fraud.

Especially at risk is subject to an empty property, when the owner is abroad. When registering in the registry it is important to provide Land Cadastre as much contact information about yourself – in this case, would be more protected from fraud. And if you become an innocent victim of fraud and suffered in this regard, financial losses, you are entitled to compensation.

® Alice Morgan 02.09.2014 g

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