Insurance News Archive

Buy-to-let investors 'could be at risk of mortgage fraud'

Landlords who leave their properties unoccupied could be targeted by mortgage fraudsters, it has been claimed.

Heather Edwards, public relations executive for the Land Registry, said empty properties are generally most at risk, such as those owned by foreign nationals living abroad or people who have moved into care homes.

She added: "If people don't keep their contact address up to date we can't contact them so they wouldn't know what was happening.

"It is much more complex than that but they are the typical victims."

According to the organisation, if someone is defrauded, their state indemnity on registered titles means an innocent victim may be compensated for any loss they suffer.

The group went on to say it writes to homeowners if an application to transfer the property is lodged by a lay applicant, or it appears the seller does not have legal representation.

24 Oct 2008