Home Buyers and Landlords Warned of Increase in Property Purchase Theft

Written on 8 November 2021 by Courtney Manton in Property News

The Law Society of England and Wales has warned buy-to-let landlords and home buyers about a recent increase in property purchase crime.

property scams

The society is working the National Economic Crime Centre (part of the National Crime Agency) and Action Fraud to raise awareness of these scams, which have seen buyers defrauded of hundreds of thousands of pounds.

In most cases, the scams involve criminals impersonating a lawyer to persuade home buyers to transfer deposits or balances into fraudulent accounts.

As part of their campaign, the organisations have issued flyers explaining the issue to solicitors. According to Law Society president Stephanie Boyce: “We are urging our members to share these flyers with their clients in order to help protect them from these highly-sophisticated and cruel schemes.

“These frauds can involve huge sums of money and have a devastating lifelong impact on the home buyer and their personal finances. Solicitors and their clients can all play a part in making such crimes more difficult for the criminals.”

Ms Boyce advised buyers to phone their solicitor to double check details before making a payment – as emails can be intercepted.

Jon Shilland, fraud threat lead at the National Economic Crime Centre, added: “Whenever a client is making a payment to their solicitor for a house purchase, they should be highly suspicious of any change in account details or new instructions [and] always check with a trusted known contact.” If in doubt, he warns, do not transfer the money.

Read more about this story on the Landlord Today website.

Courtney Manton

Courtney is a Chartered Surveyor, the senior partner and owner of the Best Gapp group.

His special talent honed over the last 30 years is winning. Winning for his many clients.

Winning a Leasehold Enfranchisement case, winning a negotiation to sell or buy, winning a lower rent at review, winning a planning permission to enhance value, winning trust.

All articles by Courtney Manton


Five Moving Tips If You Want To Be In By Christmas
11 October 2021

Now the final phase of the stamp duty holiday has ended, there’s another deadline looming for house hunters – Christmas.

Read more
Budget 2021 – What Landlords Need to Know
4 March 2021

If you’re a landlord, you might be wondering what was in the budget for you. Here are some of the key takeaways for people renting out property in 2021.

Read more

Contact Us

+44 (0)20 7730 9253
81 Elizabeth Street, London SW1W 9PG

Get in Touch