In this article, we will explore key factors to consider when buying a new build property in the UK. Researching the Developer Before committing to a new build property, it is essential to research the developer and their track record. Look into their reputation, previous projects, and customer reviews. Establishing the developer’s credibility and understanding
The Land Registry has seen a dramatic rise in property fraud over the last 12 months and last year alone paid out £3.5million in compensation for fraud. The properties most at risk are those which are rented out, those left empty for long periods of time, properties which are mortgage free or of a higher value and properties which are not registered with the Land Registry. There are a number of ways, you as the property owner can help to protect yourself from such fraud, for instance ensure that your address for service details are up to date, have more than your postal address noted on the title as a means of contact, for instance you are able to use your email address as well as a property address, or place a restriction on the property title. A can prevent/regulate changing the register in respect of any “disposition” (e.g. sale, remortgage) and it normally requires authority from the registered proprietor or a conveyancer.
As a means of tackling the rising fraud, the Land Registry instigated the Property Alert service to help individual to monitor their properties and receive alerts if any activity takes place against the title number. Follow this link to find out more about the Property Alert Service and get signed up today: https://www.gov.uk/guidance/property-alert
You are able to contact the Land Registry yourselves to take any of the above steps to help to prevent property fraud but if you would like more advice or help, especially if your property is not registered with the Land Registry, then please do contact our Residential Conveyancing Team on 01747 825432 or by email on firstname.lastname@example.org