Largely because of the booming buy to let sector, property fraud, where the rights of the owner are usurped and the property is either fraudulently sold or mortgaged, has increased enormously.

As a result the LAND REGISTRY have launched a property fraud reporting hotline (0300 006 7030) , and a new property RESTRICTION service.

These frauds usually involve empty, mortgage free or rented properties with absent owners.

These frauds are already prevalent and are likely to increase, and the average indemnity payout is £150,000 in these situations.

The new RESTRICTION will be free to absent owners but owner occupiers will pay a fee, the restriction which has been in force since February 2012 has successfully protected 5, 000 properties so far. It is an absolute requirement of the restriction that solicitor certifies that the person selling/re-mortgaging the property is the bona fide owner.

Contact Richard McConellonell for advice.