Homebuyers Warned Of Scams As End Of Stamp Duty Holiday Looms

Homebuyers have been warned to take steps to avoid being scammed during their purchase and after they move, with criminals targeting large sums of money, including house deposits. The looming end of the stamp duty holiday has fuelled a boom in the property market as people attempt to secure a new home without having to pay tax. But UK Finance, the organisation representing financial firms, said buyers were in danger of being manipulated by fraudsters into paying money into the wrong account. Read more on the Guardian website.

https://www.theguardian.com/money/2021/jan/02/homebuyers-scams-stamp-duty-holiday-

Likely Increase Of Property Scams During Crisis

UK property sellers have been warned by The National Association of Property Buyers, to make extra checks before responding to advertisements from potential buyers. The not-for-profit organisation suggests that there is likely to be a huge increase in the number of scammers and unscrupulous buyers hoping to cash in on seller's misery as the freeze on property sales begins to bite. Sellers are advised to check whether buyers are bona fide by ensuring that they are members of The National Association of Property Buyers which ensures buyers are members of The Property Ombudsman Scheme, giving vendors financial redress should anything go wrong. Read more on the Property Reporter website.

https://www.propertyreporter.co.uk/property/sellers-warned-over-likely-increase-of-property-scams-during-crisis.html

Research Shows That Subletting Scams Are On The Rise

Analysis from inventory service provider, No Letting Go, reveals that regular property visits can help to protect letting agents and their landlords from the growing risk of subletting scams. According to their data, a professionally compiled inventory and commitment to the check-out process can also help to provide financial cover in the event of property damage. There has been a rise in the number of subletting scams in recent months, particularly when it comes to fraudsters using short-term lets platforms to rent out their landlord's properties without permission. Read more on the Property Reporter website.

https://www.propertyreporter.co.uk/landlords/new-research-shows-that-subletting-scams-are-on-the-rise.html

Councils Combat HMO Conversion Scam

A housing benefit scam forcing people to live in poor and dangerous accommodation needs shutting down and more rogue landlords should be jailed, councils urge. The Local Government Association (LGA) is calling on government to close a legal loophole which allows landlords to convert properties into multiple tiny “units” which are marketed as self-contained flats in order to secure the maximum level of housing benefit payments. The loophole abuses legal exemptions and the lack of clarity in environmental health, planning and housing benefit rules to avoid detection and is resulting in widespread abuse of taxpayers’ money, as well as housing tenants in poor and often dangerous accommodation. Read more on 24housing.