Those with buy to let mortgages have been warned to keep their contact details up to date with the Land Registry in order to help prevent becoming the victims of fraud.
Heather Edwards from the organisation has highlighted the fact that landlords who have properties standing empty are the "typical victims" of mortgage fraud.
She urged them to update their details with the Land Registry so that the body can contact them if there is any evidence of fraudulent activity.
"Generally speaking it is the empty properties that fraudsters target, properties that don’t have an owner in residence," she revealed.
Ms Edwards also said that homes that do not already have a mortgage attached to them are often targeted.
The Land Registry is a government department that oversees the transfer of ownership of land - as well as property transactions - in England and Wales.
A recent investigation by Channel 4 found that the Land Registry paid out £4 million to the victims of mortgage fraud last year.
Sunday 14 September 2008
Friday 12 September 2008
Landlords urged to invest in "buoyant" Newport
Those with buy to let mortgages have been encouraged to take advantage of the "buoyant" rental market within a Welsh city.
Home to a University of Wales campus and a forthcoming state-of-the-art hospital, Newport is set to become a hub for buy to let investors, according to Rachael Davies, an area sales manager for Redrow Homes.
Redrow has several three-storey townhouses in a central location on offer in the town, which Ms Davies said would be a "sound" investment for buy to let purchasers.
"It is an exciting time for Newport, which is enjoying the same sort of investment that has changed the fortunes of Cardiff and Swansea," she explained.
And Ms Davies pointed out that the area is hosting the Ryder Cup in 2010.
The city centre is undergoing an extensive transformation, with several regeneration schemes underway including road improvements and shopping centre refurbishments, notes the council website.
Subscribe to:
Posts (Atom)