Landlords 'at risk of fraud'

News Category: Legal

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Buy-to-let landlords could be vulnerable to mortgage fraud, a property expert has suggested.

Heather Edwards, PR executive for the Land Registry, said that people who own empty properties where an owner is not regularly in residence are more at risk of the criminal activity.

False information can be used by fraudsters on bank statements, utility bills and wage slips.

The Land Registry has had to pay out £4 million to lenders and homeowners because of mortgage fraud after the practice increased by 100 per cent compared to last year, a Channel 4 investigation recently revealed.

Landlords are advised to keep the Land Registry informed of an address at which they can be contacted, or else they might not realise they are being targeted by the crime.

"Generally people who don’t spend a lot of time at the property or don’t live there and don’t have a mortgage on it are most at risk," Ms Edwards said.

How to stay legally compliant with letting agent software.