occurrences of fraud and Property Watch Disclosure

Dear Graham

Thank you for your email. I will endeavour to answer your Freedom of
Information request within 20 working days. Due to Easter falling in April
the target date for my reply to you is 30 April but I hope to provide a
response as soon as the information is available.

Yours sincerely,
Freedom of Information Officer
Corporate Legal Services
Email: [Land Registry request email]
Land Registry Head Office, Lincoln's Inn Fields WC2A 3PH
P Please consider the environment - do you really need to print this
email?
....................................................................................................................................................

Dear Sir or Madam,

Freedom Of Information Request:

Are you able to advise how many, and the total value of
compensation paid in the calendar year 2008 for property fraud.

Can you also provide details of the Property Watch commercial
services including definition of the service provided, costs and
the number of subscribers currently receiving information.

Yours faithfully,

Graham

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Dear Graham

I'm now in a position to answer your information request. The Indemnity
payments for the financial year 08/09 are as follows:

Indemnity payments - Fraud and Forgery - 08/09

Total paid: £4,968,864
Number of claims paid: 66
Average payment per claim: £75,286

Land Registry pays out Indemnity only where there has been a mistake on
the register and a registered proprietor has suffered loss due to the
mistake (Schedule 8, Land Registration Act 2002).

Consequently a number of fraud techniques do not give rise to indemnity
payments by Land Registry since there is no error in the register (such as
in the case of mortgage fraud through false valuation where the execution
of the mortgage deed is not forged) or the mistake can be put right
without loss to the registered proprietor (such as in the case where a
fraudster changes the proprietor's details on the register in anticipation
of forging a charge but has not yet registered the charge). In practice,
all claims on which indemnity is paid will be committed by either forgery
of deeds or impersonation of the registered proprietor and the
overwhelming majority will involve the registration of a fraudulent
charge.

You have also asked for details about our 'Property Watch' commercial
service:
Service Overview:
Property Watch offers a proactive monitoring of properties that are of
interest to our customers, on a monthly or quarterly basis. it confirms
whether or not a change of ownership has occurred for the properties being
monitored. When a property has been sold our report will provide the
following information:

* Date of the transfer
* Price Paid for the Property
* name of the vendor
* name of the purchaser

Cost to sign up to the product
Current pricing metric is £2 monitoring fee per quarter and up to £7 to
be informed of the change of ownership as set out above. This includes the
statutory cost of purchasing an official copy of the register.

Current Customer Take Up
4 Customers
I trust my reply answers your queries.
Yours sincerely,
Freedom of Information Officer
Corporate Legal Services
Land Registry Head Office, Lincoln's Inn Fields WC2A 3PH
P Please consider the environment - do you really need to print this
email?
..........................................................................................................................................................................

From: Graham [[FOI #10072 email]]
Posted At: 01 April 2009 18:56
Conversation: Freedom of Information request - occurrences of fraud and
Property Watch Disclosure
Posted To: Inbox

Subject: Freedom of Information request - occurrences of fraud and
Property Watch Disclosure

Dear Sir or Madam,

Freedom Of Information Request:

Are you able to advise how many, and the total value of
compensation paid in the calendar year 2008 for property fraud.

Can you also provide details of the Property Watch commercial
services including definition of the service provided, costs and
the number of subscribers currently receiving information.

Yours faithfully,

Graham

Land Registry's House Price Index is now live. www.landregistry.gov.uk

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