Property Classifieds UK

Property fraud is on the rise; in 2020 alone, The Land Registry ended up paying £4.5 million – the second highest figure on record – in compensation to people who were victims of property fraud.  Predominantly property title fraud, the potential of being caught out was highlighted by luxury developers, the Candy Brothers, when they believed they were purchasing a 47-acre estate in Sunninghill from four pensioners only to find that they weren’t the actual owners. The property was owned by a billionaire Saudi sheikh and Land Registry ended up paying more than £6.5 million in compensation.  Awareness of property fraud and scams has increased in recent years. However, this type of fraud comes in various disguises and can involve buyers, sellers and the legal profession. So, what are the types of property fraud and scams ? How can you spot them and avoid becoming a victim?

Some property buyers will steer away from purchasing a repossessed property, wary that it will come with problems and they could be caught out. However, other people focus on buying this type of property because it offers the opportunity of snapping up a bargain. Buying a repossessed property is not necessarily a bad thing; in many cases, it is more than likely that you will get a bargain. That said, there are pitfalls to look out for to ensure you get the property you hoped for. Our guide to buying a repossessed property will help you manage the whole process with ease.  First, let’s give you an overview of what we mean by a repossessed property, particularly if you haven’t heard the term before. It is a property that has been taken back by the lender, usually the mortgage provider because the owner of the property has defaulted on their repayments. For most lenders, this is the last resort, and in most cases, they will try to resolve the matter with the owners before it gets to ...