Thursday 02 February 2017
Posted by: Westcor International
The recent case of a fraudulent transfer of 1.2 million (GBP) using the identity of a Kensington homeowner provides a salient reminder of the risk of fraud in lending. As the body that registers land and property in England and Wales, the Land Registry plays an important role in property transactions and preventing fraud. Part of this role is to check that the person registering a title is the true owner. Lenders heavily rely on this information when deciding whether to accept a mortgage application.