Landlord insurance clients need to be on the alert for property fraudsters trying to make a profit at everyone else’s expense. A financial advisor has been jailed by Leeds Crown Court for five years for attempting to defraud financial institutions out of £3m. She used fake identities to rent properties and then applied for loans, including cash advances. She made sure she used addresses with no loans charged on them and she even attempted to sell some properties without the real owners’ knowledge. The prosecutor said “This is sophisticated, repeated and professional offending by a defendant adept at using disguise and subterfuge”.
Identity theft is a massive problem and property owners can find themselves involved in enormous inconvenience if they fall foul of it. Have you heard of any scams in your local property market?