Property Fraud Prevention Fee (when buying a new property)

SpanishBlue

We are close to exchanging contracts on our new home we are buying.


Our solicitor has suggested we pay him an additional fee of £120 so that an extra sentence can be added to the title of our new home, which basically states that it can’t be sold or have a mortgage placed on it in the future without a solicitor checking our identity first.


Is this just scaremongering or is it worth paying for this “service”?


Once we’ve bought the property, could we not just register at https://www.gov.uk/guidance/property-alert and save ourselves the £120 fee?

G_M

Sign up to the Land Registry's free service!


https://propertyalert.landregistry.gov.uk/

stator

If you think you are at risk of fraud, for example if there are some fraudsters in the family, or addictive gamblers or scam artists with a grudge against you, then it might be worth it.

Otherwise I wouldn't bother

beckysheffield

Ummm what. Shouldn!!!8217;t they be checking the identity anyway?

G_M

beckysheffield wrote: »

Ummm what. Shouldn!!!8217;t they be checking the identity anyway?

Surely you've read about identity theft? It does happen, and people do get scammed - even to the point of losing property.


With a property, it's a much bigger risk if you don't live in it eg 2nd home, BTL etc (paperwork may go to the property).


But the free LR service I linked above is a good protection.

SpanishBlue

Thanks everyone for your input.



We have decided to sign up to the Land Registry's free service (thanks G_M:)) and not bother with the Solicitor's £120 fee for their service.