CORONAVIRUS UPDATE APRIL 2021

A message to our clients:

With the recent move to allow shops and offices to fully re-open, we will continue to review our policy on clients attending our offices. Currently, we are not inviting clients into the office but we are able to briefly meet with clients by appointment at the door of the office. Please note that face coverings are still required indoors until further notice. We remain committed to following the Government guidelines as rules continue to change in line with the easing of lockdown.

We continue to operate our business as usual across all the services that we offer our clients, both current and prospective.

We continue to offer teleconference-based or telephone consultations.. We are aware that not everyone has been offered full vaccination yet and understand that some people may feel safer continuing with socially distanced communications.

Our family and wills / probate solicitors continue to offer initial advice remotely by video conferencing and by telephone for up to one hour (as advertised on this website). Please call us if you would like to speak to one of our experts.

If you have a case in court, please telephone us so we can discuss representation.

We appreciate your patience, support and understanding over the past year since the restrictions related to the pandemic began. We hope you continue to stay safe, and wish you a brighter 2021!

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Property Fraud

Conveyancing

The process of buying a home has become a target for fraudsters as it involves large sums of money. The Solicitors Regulation Authority (SRA) estimates that, on average, victims of conveyancing fraud lose £101,000.

 

What is Property Fraud?

During these unprecedented times, the number of fraudulent activities has increased, mostly due to the changes that have taken place, such as working from home. Fraudsters are using property as a way to gain extortionate amounts of money. They can do this by pretending to be you whilst selling or buying a property, or use fraudulent documents to acquire ownership of a property. As well as pretending to be a buyer or a seller, there are high chances of them impersonating a landlord, rental agent, lender or even a conveyancer.

The source of this roots from identification. The pandemic has made it very challenging for firms to carry out verification of clients’ identification and the source of funds check. Now more than ever, clients communicate with their solicitors through email and phone, presenting fraudsters with a bigger opportunity. With frequent national lockdowns, the urge to complete on a purchase / sale is increasingly high, which often leads to missing the red flags that can cause fraud. To aid the firms’ battle, SRA has put an electronic verification process in place.

There are various types of property frauds, and they can affect both buyers and sellers. The most distinct and concerning is vendor fraud, which targets the vulnerable and the elderly; however, this does not conclude the list.

You’re more at risk if your property:

  • is rented out
  • is empty
  • is mortgage-free
  • isn’t registered with HM Land Registry.

 

Protecting yourself from Fraudsters

Buyers

  • Never give in to demanding phone calls, emails or letters which cause you to make quick decisions, especially when they relate to your personal details.
  • Without verifying bank details with your conveyancer, do not transfer any money over to a bank account.
  • Be cautious in engaging yourself with a property which you have not seen in-person or especially where there is a constant change or delay
  • If you have any concerns, always confirm with your conveyancer. Never hesitate to ask any questions about the property you are buying, as sellers will have no problem in answering.

Sellers

  • Make sure to use a trusted letting agent to avoid any property scam
  • Register to receive a “Property Alert” from the Land Registry that will notify you of any applications made in relation to your property.
  • Apply for a restriction to be put on your title, which will stop HM Land Registry from registering a sale or mortgage on your property without a conveyancer confirming they have verified your identity.

We are on constant lookout for new scams and frauds, and we ensure that all our members of staff are informed of these new and conventional fraudulent methods. Our staff make sure that they are constantly reviewing for fraud throughout the transaction.

However, if you are concerned that you may have been targeted for the same, immediately contact the Land Registry’s property fraud line on 0300 006 7003.