Property fraud is not something that most people think about on a daily basis, but experts are now warning that cases are growing throughout the UK and homeowners need to pay much closer attention mainly landlords. With the slowing of the housing market and more transactions occurring online, the scammers are getting tougher to catch.
Why Property Fraud Is Rising Right Now
Scammers go where the money is, and property is one of the easiest money targets.
There are a few reasons fraud is on the increase
- More digital processes: IDs, signatures, and documents are shared online.
- Landlord exits: More landlords selling up means more activity for scammers to hide within.
- Remote transactions: Scammers assume the role of buyers or sellers from overseas.
As, the more the system goes online, the more opportunities criminals get.
Common Types of Property Fraud
1. Title Fraud
A criminal steals your identity and changes the ownership records of your property. Then, they try to sell or remortgage it behind your back.
2. Scams Involving Fake Landlords or Tenants
Fraudsters, pretending to be landlords, collect deposits on properties they do not own. Fake tenants use forged documents to move in and disappear owing months of rent.
3. Deposit & Conveyancing Scams
Hackers hijack email chains between buyers and solicitors and deceive people into sending deposits to the wrong bank account.
4. Diversion of Rental Payment
Tenants are being targeted by scammers who pose as landlords and instruct them to "update" bank details.
Here are some red flags that people often overlook:
- Unexpected letters about your property.
- Mail addressed to someone you don't recognize.
- Sudden changes to utility accounts.
- A property being marketed under your address without your knowledge.
Final Thoughts
Fraud may seem like something that happens to "other people," but experts say the risk is now real for everyone-especially owners with rental properties or homes that stand empty. The good news? Most scams can be stopped early with awareness and a few protective steps. It will not take that much effort to stay alert, but it will save you from losing thousands or even your entire property.
