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sympatex

Possible Fraud, Land Reg Data Confusing Help!

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All,

i posted a few weeks back about some advice on a reposession order against the flat next door to us, ive searched for it but i can't find it anymore. We are currently renting but the gf's nesting instinct is getting stronger and this seemed like an opportunity worth exploring.

My original topic was about how i could find out what value the mortgage held against the flat in reposession was. This seemed not to be possible, only old sales information via land regisry and numerous online sites.

I went inside when the chap was replacing the locks on behalf of the halifax and its identical to our flat, our flat was bought form new for 175k back in 2006. (oh dear) The repo flat, had never been lived in as far as i could tell, it had no carpets, no sink, and the toilet still had its "selaed" sticker on and the walls were white washed and not finished.

Looking at some information from ourproperty.co.uk it appears to have had 2 owners which evidently have never lived in it (or rented it). It was originally bought in Nov 2006 for 120 and then again 7months later for 150. Having had nothing done to it and a state disrepair (or lack of any finish) this seems remarkable.

My question after that is, could this be a fraud case. Someone sold it to a mate, made £31k in 6months and then hoppped it somewhere else?! Also would this mean the mortgage is likely to be on the £120k or the £150k?!

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I dont think HMRC are going to be too interested in answering my curiosity tbh!

mose, what scenarios could have happened with the stuff you imply that is not on the land reg with regards to this property? I know the estate agents who have dealt with this block from when it was made, ic oudl try and pry some information out of them if i knew what to ask.

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All,

i posted a few weeks back about some advice on a reposession order against the flat next door to us, ive searched for it but i can't find it anymore. We are currently renting but the gf's nesting instinct is getting stronger and this seemed like an opportunity worth exploring.

My original topic was about how i could find out what value the mortgage held against the flat in reposession was. This seemed not to be possible, only old sales information via land regisry and numerous online sites.

I went inside when the chap was replacing the locks on behalf of the halifax and its identical to our flat, our flat was bought form new for 175k back in 2006. (oh dear) The repo flat, had never been lived in as far as i could tell, it had no carpets, no sink, and the toilet still had its "selaed" sticker on and the walls were white washed and not finished.

Looking at some information from ourproperty.co.uk it appears to have had 2 owners which evidently have never lived in it (or rented it). It was originally bought in Nov 2006 for 120 and then again 7months later for 150. Having had nothing done to it and a state disrepair (or lack of any finish) this seems remarkable.

My question after that is, could this be a fraud case. Someone sold it to a mate, made £31k in 6months and then hoppped it somewhere else?! Also would this mean the mortgage is likely to be on the £120k or the £150k?!

Why does all that matter?

Try to get it for what you think it's worth (if you want it that is).

2 bed flat in North - 175k 2006, 90k now.

2 bed flat in South, 175k 2006, about 130k now.

with variations for exact location.

I don't see the relevance of what has gone on before unless they can get you for any debt, which seems unlikely.

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repositions, business transactions, some auctions and a whole heap of other things are excluded from the land reg

This is not true. The register of title is complete, it is the house price inflation data derived from the land registry data that has omissions.

Edit : spelling iPhone not easiest to post from.

Edited by Driver

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All,

i posted a few weeks back about some advice on a reposession order against the flat next door to us, ive searched for it but i can't find it anymore. We are currently renting but the gf's nesting instinct is getting stronger and this seemed like an opportunity worth exploring.

My original topic was about how i could find out what value the mortgage held against the flat in reposession was. This seemed not to be possible, only old sales information via land regisry and numerous online sites.

I went inside when the chap was replacing the locks on behalf of the halifax and its identical to our flat, our flat was bought form new for 175k back in 2006. (oh dear) The repo flat, had never been lived in as far as i could tell, it had no carpets, no sink, and the toilet still had its "selaed" sticker on and the walls were white washed and not finished.

Looking at some information from ourproperty.co.uk it appears to have had 2 owners which evidently have never lived in it (or rented it). It was originally bought in Nov 2006 for 120 and then again 7months later for 150. Having had nothing done to it and a state disrepair (or lack of any finish) this seems remarkable.

My question after that is, could this be a fraud case. Someone sold it to a mate, made £31k in 6months and then hoppped it somewhere else?! Also would this mean the mortgage is likely to be on the £120k or the £150k?!

Sounds to me like a developer ramping the values, via off-shore trusts to try an ensure best price for the remaining flats. I wonder if council tax was ever paid on the property? or was it left unfinished to avoid it?

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You still have to pay Council Tax on a property after it has been empty for 6 months. Whether it is furnished or not doesn't matter. There are some exceptions, but they are very specific and unlikely to apply to a new build.

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You still have to pay Council Tax on a property after it has been empty for 6 months. Whether it is furnished or not doesn't matter. There are some exceptions, but they are very specific and unlikely to apply to a new build.

he said 'finished' not 'furnished'. No council tax if not habitable.

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Thanks for all your responses. I guess it doesn't matter what has gone on before, it just seemed an odd one that 2 flats or identical proportions and next door to each other would have a 55k difference in 6months (50% price rise almost). I can't imagine carpets and a few kitchen units would cost that!

I think you're right in your price estimations moose, i wouldn't price it at anything more than its original sale value as nothing has happened to it literally and prices have returned to late 2005 - mid 2006 which was when these were built. It won't sell for that though, min 2bed flat price here is 160k, but might be worth a punt. It would give us cheap rent for the forseable future. Payments on borrowing of 100k is pretty small!

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Thanks for all your responses. I guess it doesn't matter what has gone on before, it just seemed an odd one that 2 flats or identical proportions and next door to each other would have a 55k difference in 6months (50% price rise almost). I can't imagine carpets and a few kitchen units would cost that!

I think you're right in your price estimations moose, i wouldn't price it at anything more than its original sale value as nothing has happened to it literally and prices have returned to late 2005 - mid 2006 which was when these were built. It won't sell for that though, min 2bed flat price here is 160k, but might be worth a punt. It would give us cheap rent for the forseable future. Payments on borrowing of 100k is pretty small!

Can't see why there is a strong evidence of fraud. Some of these were bought off plan (so contract signed/booked 2004 at 120k and the wholesaler bought it wholesale. Flat aren't cost that much to build anyway) then flipped at 2006 for 150k.

Lots of these if you look into Land Reg data closely.

Get you mortgage etc ready and just make an offer which is relevant to how much you want it.

Edited by easybetman

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  • 197 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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