Buy-to-let owners most at risk of mortgage fraud

Buy-to-let homeowners are among those most at risk of mortgage fraud, it has been suggested.

According to the Land Registry, contact details should be kept up to date so that homeowners can be informed of any concern.

And spokesperson for the government body Heather Edwards noted that since buy-to-let owners may not be living in the home, they could face a threat of fraud.

"Generally speaking it is the empty properties that fraudsters target, properties that don't have an owner in residence and often that don't have a mortgage attached to them," she said.

Examples of mortgage fraud can include people applying for loans with forged passports or bank statements.

A Channel 4 investigation recently found that the Land Registry had paid out £4 million to homeowners and lenders that had been hit by mortgage fraud, an increase of 100 per cent compared to one year ago.

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Published on: October 24, 2008

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