Is it worth taking the additional fraud prevention service?

danlightbulb

My conveyancers have offered this:



Is it worth it?

The_Unready

Almost certainly not:

https://www.gov.uk/guidance/property-alert

user1977

Multiple previous posts here about problems being cause by the restriction they mention making things too secure, as conveyancers are (understandably) reluctant to certify that you are the same person named on the title. The risks are somewhat overstated (especially for a mortgaged, owner-occupied property).

dimbo61

You can register yourself with the Land Registry for FREE.
You provide contact details !
Name, email, mobile, landline, etc

Then if anyone tries to sell your home you are alerted.

canaldumidi

Sign up for the Land Registry free alert service:

https://www.gov.uk/guidance/property-alert

MovingForwards

What type of property have you opted for and how did it match your original requirements @danlightbulb as I can't be the only one curious.

alelly

I would not only say no to this but I would change solicitors. Very scammy approach to shake you down for more money. 

aoleks

the property alert is a bit useless, as it alerts you AFTER an event. should someone fraudulently charge a mortgage against your property, that alert won't do much to revert (and solve!) the problem.

with that in mind, the risk is very low if you live in the property and there's a mortgage on it, as said, but we did get this protection for peace of mind.

user1977

aoleks said:

the property alert is a bit useless, as it alerts you AFTER an event. should someone fraudulently charge a mortgage against your property, that alert won't do much to revert (and solve!) the problem.

But will advise of e.g. priority searches, which are a normal part of the process BEFORE completion.

Slinky

aoleks said:

the property alert is a bit useless, as it alerts you AFTER an event. should someone fraudulently charge a mortgage against your property, that alert won't do much to revert (and solve!) the problem.

with that in mind, the risk is very low if you live in the property and there's a mortgage on it, as said, but we did get this protection for peace of mind.

We received an alert on the day before completion IIRC.

danlightbulb

MovingForwards said:

What type of property have you opted for and how did it match your original requirements @danlightbulb as I can't be the only one curious.

Probably off topic for here really but I couldn't buy anything during Covid anyway because the mortgage availability was dire, so I stopped trying. Then in mid-2021 I met my new girlfriend so Im moving to a different area nearer to where she works and she'll be moving in with me once Ive bought the place. I got a nice 3 bed semi with driveway and nice garden. More traditional style mid 30's house in great condition. No garage unfortunately but Im planning to build a nice solid workshop type building at the bottom of the garden. It was a nightmare to find somewhere though, the prices have shot up and demand is massive with limited supply. I had to go over asking price to secure it. Right at the top end of what I could borrow.

alelly said:

I would not only say no to this but I would change solicitors. Very scammy approach to shake you down for more money. 

They wouldn't have been my first choice of solicitors, but going with these "made it easier for the estate agent to recommend me to their vendor" on the house Im buying. I.e in not so many words, if I didn't use their in-house solicitor and mortgage broker they'd have been recommending the vendor go with someone who was.