Tag Archives: middle-east
Land Registry fraud line helps thousand protect their homes
The UK’s Land Registry’s fraud line has helped thousands to protect their home ownership against property fraudsters in its first three years. Nearly 3,000 calls and emails have been received as people become more aware of the risk of someone stealing their identity in order to sell or take out a mortgage on their home before disappearing with the money. ‘Since we launched our property fraud line property owners have become more aware of the risk. We urge home owners to follow our advice to reduce their risk of falling victim to property fraud,’ said Alasdair Lewis, director of Legal Services at the Land Registry. ‘Whilst no system can eradicate fraud completely, since September 2009 we have stopped 199 fraudulent applications on properties worth around £82 million,’ added Lewis. The properties most vulnerable to property fraud are usually empty, tenanted or mortgage-free. Individuals at a higher risk of fraud include owners who do not live in the property because they live abroad, buy to let landlords, people in long term hospital or residential care or where a relationship has broken down. Lewis gave an example of a recent case. Penny Hastings called Land Registry’s property fraud line after becoming suspicious that someone had fraudulently sold a property which she owned and rented out. It turned out the tenant was part of a fraud ring. Once he’d rented Penny’s house using a false identity, he and an accomplice put the house on the market. The accomplice was a lady who had changed her name to Penelope Hastings by deed poll and then secured a passport in that name. ‘The Land Registry did not register the sale as we suspected a fraud. This meant that Penny Hastings still maintains the legal ownership of the property. Unfortunately, an unwitting buyer paid £1.35 million for the property. The police are currently investigating the fraud,’ said Lewis. The property fraud line was launched in February 2013 for owners to quickly alert Land Registry if they are concerned their property might be subject to a fraudulent sale or mortgage. It forms part of Land Registry’s ongoing fraud prevention and detection techniques to safeguard people’s registered properties. Callers can speak to specially trained staff for practical guidance about what to do next. The telephone number is 0300 006 7030 and the line is open from 8.30am to 5pm Monday to Home owners can protect their property by signing up for the Land Registry’s free Property Alert service to receive an email alert when there is certain activity on the monitored property such as an application to register a new mortgage. People can then judge whether the activity is suspicious and seek further advice if necessary. Lewis pointed out that those who become an innocent victim of fraud and suffer a financial loss as a consequence may be compensated. If your property isn’t registered then no compensation is payable. There can be up to three addresses on the register including an… Continue reading
Aberdeen property market showing signs of moving again
The property market in and around Aberdeen, which has been hit by the fall in oil price, is showing encouraging signs of activity according to latest figures from an independent property consultancy. The report from CKD Galbraith reveals that its regional office in Cults has been successful in bringing more properties to the market in Aberdeenshire as well as reducing the average time taken to sell a property by almost three weeks. CKD Galbraith’s Aberdeen statistics from the final quarter of 2015 show that the supply of properties coming onto the market increased by 50% quarter on quarter. They also shows that the average time taken to sell a property was down by 32.75%, almost three weeks, compared to the previous quarter of 2015. ‘The Aberdeenshire property market has continued to show positive results throughout the final quarter of 2015 despite the downturn in the oil and gas industry in Aberdeen. We have been greatly encouraged by the increase in the number of properties coming onto the market and there has been a healthy appetite from buyers viewing properties,’ said Hannah Christiansen, head of residential at CKD Galbraith’s Aberdeen office. ‘Good properties at the lower end of the market continue to sell well, with good viewing levels and strong offers whilst the higher end of the market does continue to move, albeit its taking slightly longer. People are still moving home in Aberdeen and excellent property, in both city and rural locations, continue to be in demand,’ she explained. ‘The industry wide figures for sales in Aberdeen over the previous quarter have been down across the industry, as reported by the latest Registers of Scotland figures. However, we have witnessed a strong start to the year and as we enter the prime Spring selling period we are confident the market will see healthy activity with a flurry of properties for sale prior to the introduction of the 3% levy on second homes coming into place in April,’ she added. The latest Registers of Scotland index report covering the final quarter of 2015 showed that the total volume of residential property sales in Scotland increased by 14.5% compared with the same period in the previous year. The average property price in the quarter was £167,734 an increase of 1.6% compared to the previous year. Continue reading
Concerns voiced about lack of flood awareness among UK home owners
With the UK in the middle of yet another storm with high winds there are calls for a new approach to home building on flood plains and an increase in awareness for home owners. Land agent Aston Mead believes that the country needs to get rid of the notion that sand bags can prevent homes from being flooded and instead adopt a radically different approach. The call comes as new survey reveals that one in three home owners are unaware whether their home is on a flood plain or not. Almost 10,000 homes a year are built on floodplains, with an average of one new home in every 14 constructed on land that has a significant chance of flooding, either from a river or the sea. Aston Mead director Richard Watkins said that flood prevention should be at the core of construction on floodplains. ‘We can’t go on treating flooding as an afterthought. Instead, we should be building properties which are specifically designed to rise and fall with the flood water. The technology is already available out there, all we have to do is make best use of it,’ he explained. He points to designs for homes which are built on top of a pre-cast pontoon sitting inside an excavated concrete void. As flood water enters the void, the pontoon rises, guided by vertical rails which can be hidden within walls and chimney breasts. As the floodwater recedes, the house returns to its original position, with a pump removing any excess water. Access is available at all times using an articulated pathway, and services remain connected using a system of flexible knuckle joints. ‘This system is completely scalable, and designs of properties can range from the very traditional to the highly contemporary, with the footprint of the floating pontoon extending beyond the building itself to include garages, terraces and gardens,’ Watkins pointed out. ‘The pontoons can also be used as fully habitable basements and there are few limitations to size, design or even the number of storeys that can be added on top. An additional advantage is that as water fills the void, it reduces the amount of flood water passing onto neighbouring properties,’ he said. ‘These buildings can be mortgaged on standard terms by most lenders and they also qualify for standard household insurance despite being on the floodplain. What’s more, if they are also fitted with grey water recycling and photo-voltaic panels, they can remain fully functional safe havens even in the worst flooding conditions,’ he added. Recent Met Office figures revealed that December 2015 was the wettest month ever recorded in the UK, with almost twice the amount of average rainfall and more storms hit the country in January and already in February. ‘Resorting to a supply of sandbags in the garage just in case is no longer good enough. We can’t continue fighting… Continue reading
