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/ News / Mortgage and property transaction fraud has increased by 50% in the past year, according to research from credit reference agency Experian says

Mortgage and property transaction fraud has increased by 50% in the past year, according to research from credit reference agency Experian says

Criminal have been using fraudulent identities – including  names of recently deceased people - to make mortgage applications and are also pretending to be solicitors to trick buyers  into sending them large sums of money.

In order to impersonate the dead, criminals adopt the identity of people  who have recently passed away but who owned a property. They then to take out a mortgage in that name and have someone pose as a fake solicitor to receive the funds.

But, according to the research, the bigger problem is the rising number of cases where cash is stolen from buyers in the middle of a property transaction; with databases being hacked or emails intercepted.

Mortgage and property transaction fraud has increased by 50% in the past year, according to research from credit reference agency Experian says

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