Landlords urged to sign up to free property alert service as property scams surge

HM Land Registry is urging landlords to sign up to its free property alerts service after a surge in property scams.

According to the Land Registry, the service has already prevented more than £59 million worth of fraudulent transactions.

The National Residential Landlords Association (NRLA) is also urging landlords to sign up to the service to safeguard their properties against fraudsters.

Rental properties can be more attractive opportunities for fraudsters

HM Land Registry revealed it had blocked an application to transfer ownership of a £360,000 bungalow, well below the average value for the area. The owners were alerted through the Property Alert service and, on visiting the property, discovered the locks had been changed and a For Sale sign erected. They contacted HM Land Registry, which cancelled the fraudulent transfer application.

In another case, an application was made to register a £200,000 mortgage on a terraced house. The owner, who did not live at the property and had not applied for a mortgage, flagged the issue and HM Land Registry cancelled the application.

The NRLA says landlords in particular can be susceptible to fraudsters due to not living at their rental properties.

The NRLA says on its website: “Rental properties can be more attractive opportunities for fraudsters because landlords don’t live at the property address, making it easier for criminals to intercept official correspondence or even assume false identities using the rental address.

“With property values still high and transactions often complex, a successful fraud can net criminals hundreds of thousands of pounds.”

Landlords can register an account

The NRLA and HM Land Registry are urging landlords to sign up to the free Property Alert service to protect against fraud.

Landlords can register an account on the HM Land Registry website and monitor up to 10 properties from a single account. The system also issues six-monthly summaries confirming which properties are being tracked and highlighting any alerts.

If suspicious activity is detected, landlords receive immediate email notifications when someone applies to change ownership, transfer the property, or take out a mortgage against it. Each alert includes full details of the application, who submitted it, and when it was received.

Landlords can sign up by clicking here.