February 2023
When you buy or sell a property you are obtaining, or disposing of, usually, one of your greatest assets in life and you can protect your land or property from being fraudulently sold or mortgaged in a number of ways, with the assistance of the Land Registry.
The Land Registry offer a service whereby you can sign up to get property alerts if someone applies to change the register (the title deeds) of your property, if for example, they were trying to use your property to obtain a mortgage. This will not prevent any changes taking place, but this will alert you when a change is made so you can take the appropriate action.
The Land Registry also offer a service whereby you can apply to register a restriction on your title deeds which will require that a Conveyancer or Solicitor certifies the application to change the register was made by you. This service is free for business owners or residential owners who do not live at the property – there is a small fee of £40.00 payable to register a restriction if you do live at the property you wish to protect. You do not need a Solicitor to make the application for you, you can simply fill out the online application form on the Land Registry website.
Your property is more at risk of fraud if:
· your identity has been stolen
· you rent out your property
· you live overseas
· the property is empty
· the property is not mortgaged
· the property is no registered with the Land Registry
Protect your asset – consider registering a restriction to alert you to any fraudulent transaction.
See the Land Registry website for further details