Homeowners are becoming more concerned about property fraud, research suggests.
A freedom of information request has shown a 26% increase in the number of homeowners who have signed up to a property alert scheme to protect against fraudulent property transactions.
The figures show 108,290 property owners registered for the free HM Land Registry’s Property Alert Service in 2023. Some 43,033 have signed up so far this year.
Anti-money laundering (AML) platform Thirdfort, which conducted the research, said the figures suggest homeowners are increasingly concerned about the risk of fraud, given the rising prevalence in recent years.
However, the data shows 734,687 people in total have now signed up for the free service since its launch in 2014. With approximately 24.8m homes in the UK, this could, however, represent as little as 3% of property owners, despite significant risks of title fraud.
Olly Thornton-Berry, co-founder of Thirdfort, said: “As fraud figures continue to rise, property owners and professionals must do all they can to prevent fraudulent transactions.
“With increasingly sophisticated methods of identity fraud, all properties are at risk. However empty properties, tenanted properties and those without a mortgage are particularly vulnerable. It’s hugely positive that we’re seeing more and more homeowners taking advantage of the Property Alert scheme, but we continue to urge more people to take this simple but effective step.”
|
Year
|
Registrations
|
|
2024 (to date)
|
43,033
|
|
2023
|
108,290
|
|
2022
|
178,086
|
|
2021
|
135,624
|
|
2020
|
46,043
|
|
2019
|
51,809
|
|
2018
|
51,178
|
|
2017
|
61,168
|
|
2016
|
28,424
|
|
2015
|
12,999
|
|
2014
|
16,938
|
|
2013
|
1,095
|
|
TOTAL
|
734,687
|