Vernon Sellahewa
Legal
Criminals Stealing Property Deposits in Conveyancing Scams
Buying a home is stressful, and criminals are taking advantage. According to Lloyds Bank, conveyancing fraud reports rose by 29% in the second half of last year.
Fraudsters target property purchases by pretending to be your solicitor, tricking you into sending your deposit or full payment to an account they control. These scams are often sophisticated and timed to catch buyers off-guard during this busy, high-pressure process.
How to Stay Safe
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Send a Test Payment
Before transferring a large sum, send £1 first and confirm with your solicitor, using their official branch phone number, that it was received.
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Double-Check Contact Info
Look out for unusual emails or new contacts. Verify email addresses carefully and be suspicious of changes or unfamiliar staff names.
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Protect Your Privacy
Scammers use social media to find targets. Do not post about your home purchase until it is complete.
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Confirm Payment Details in Advance
Agree on payment instructions with your solicitor early on, in person or via a verified phone number. Do not rely solely on email.
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Watch for Bank Warnings
If your bank flags a mismatch or warns of fraud, stop and call your solicitor using trusted contact details.
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Avoid using unprotected Wi-Fi systems as these can be hacked.
Vernon Sellahewa, a solicitor in our Residential Property Department said:
“Awareness is your best defence. These scams are preventable with vigilance and care. Follow the tips above to help mitigate risks and ensure your deposit, and your dream home, stay safe. If in doubt, do not transfer money until you have undertaken the necessary checks and are sure.”