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.
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