Yet another example of property fraud

Property Fraud is on the risk agenda and increasingly conveyancers will be looked upon as one line of defence. I recently stumbled across a blog from a very articulate letting agent who revealed a case of property fraud which he became aware of. Properties that are let are regarded as a prime target for fraudsters.

The case in hand relates to a tenant who stole his landlord’s identity and applied to remortgage the property for over Two Hundred Thousand Pounds, then disappeared without making any repayments. The disappearing tenant ( let’s call him Mr X ) rented the property through a Letting Agency in Brighton. Mr X paid 6 months’ rent in advance together with a rent deposit. The property owner, had successfully let the property for several years after moving abroad. Shorty after taking occupation Mr X was able to successfully pose as the owner of the property.

Yet another example of property fraud

Property Fraud is on the agenda and increasingly conveyancers will be looked upon as one line of defence. I recently stumbled across a blog from a very articulate letting agent who revealed a case of property fraud which he became aware of. Properties that are let are regarded as a prime target for fraudsters.

The case in hand relates to a tenant who stole his landlord’s identity and applied to remortgage the property for over Two Hundred Thousand Pounds, then disappeared without making any repayments. The disappearing tenant ( let’s call him Mr X ) rented the property through a Letting Agency in Brighton. Mr X paid 6 months’ rent in advance together with a rent deposit. The property owner, had successfully let the property for several years after moving abroad. Shorty after taking occupation Mr X was able to successfully pose as the owner of the property.