Criminal tenants taking out a mortgage on their landlords property

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Because information is so easily obtained now online it is becoming easier for criminal tenants to take out a mortgage on their rented property. Often the first the landlord knows about this is when the rent fails to come in after the tenants have done a runner once they have got their hands on the money. 

The debt collectors for the mortgage company will then appear some time after, and the landlord will then have all the hassle of dealing with the problem.  Which may take some time.

The reason the tenants are able to do this is that it is generally easy for them to intercept the paperwork from the Land Registry, and the landlord / owner will not be aware of what is going on if he has not provided the Land Registry with an alternative address for correspondence.


Moral:

If you are renting out a property, make sure that you give the Land Registry a contact address for correspondence other than the property itself, so you become aware if your tenants try to do this. There is also an alerts service you can sign up to.  See my Landlord Law Blog post here.

 

 

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