Anti fraud restriction when buying?

mark67123

Hi,
in the process of purchasing a property and the solicitor doing the conveyancing has asked if i want to pay for an “anti fraud restriction”?
I’m not entirely sure if this is something i need and apparently they can’t advise me. It’s not something i remember when i have bought before, but that was some time ago.
Any advice would be much appreciated!

DCFC79

mark67123 said:

Hi,
in the process of purchasing a property and the solicitor doing the conveyancing has asked if i want to pay for an “anti fraud restriction”?
I’m not entirely sure if this is something i need and apparently they can’t advise me. It’s not something i remember when i have bought before, but that was some time ago.
Any advice would be much appreciated!

Google gives a possible answer, have you checked it out ?
Your solicitor cant advise you as they don't want a future claim you were sold something you didn't need/want.

mark67123

Yes i have checked out google but there doesn’t seem to be a clear answer. I guess i am thinking that if it was necessary, why don’t they just do it as a matter of course in the conveyancing?
But then i don’t  know if it is risky not to have it these days - been about 12 years since i last went through this process.
Was just hoping someone could clarify for me🙂

MovingForwards

I've just googled it, I also remember seeing posts from people struggling with the restriction on the property when they come to sell.

Perhaps a search of the forums will give you an idea as to whether you want it or not.

SmashedAvacado

You can, for free, set up a Land Registry Alert that identifies when someone has made an application in relation to your property. if you are living at the property and you have a mortgage then i really dont think paying for the solicitor to put a restriction on the title is necessary - (and in any event - it really ought not to be something that is paid for as the work involved is minimal. 

Presumably they "can't advise you" because they are conflicted between acting in their own interests by charging you for something that you don't need - and your interests by explaining that with a mortgage and if you are living at the property,  and an LR alert set up then the chances of someone stealing your house from under you are very very remote indeed. 

mark67123

SmashedAvacado said:

You can, for free, set up a Land Registry Alert that identifies when someone has made an application in relation to your property. if you are living at the property and you have a mortgage then i really dont think paying for the solicitor to put a restriction on the title is necessary - (and in any event - it really ought not to be something that is paid for as the work involved is minimal. 

Presumably they "can't advise you" because they are conflicted between acting in their own interests by charging you for something that you don't need - and your interests by explaining that with a mortgage and if you are living at the property,  and an LR alert set up then the chances of someone stealing your house from under you are very very remote indeed. 

Thankyou for that, gives me a better picture of what it’s all about. I had thought it was just to do with the current sale/purchase but i see it’s more of an ongoing thing. I would be living at the property so thinking i’ll have a look at the land registry alert instead. Many thanks👍