By Steve Heathcote, Heathcote Financial Planning
Published: 28 April 2026
Mortgage and property fraud
Buying a home involves large payments, tight deadlines and emotional pressure. That is exactly why property transactions are attractive to fraudsters.
A scammer does not need to steal your whole identity to cause serious harm. Sometimes they only need to convince you to send your deposit to the wrong bank account.
Never send money during a property transaction until you have independently verified the payment details using a trusted contact method.
You can also read our wider guide: How to Protect Yourself from Financial Scams in 2026.
Why Homebuyers Are Vulnerable to Fraud
Property purchases are stressful. You may be dealing with estate agents, solicitors, mortgage advisers, lenders, surveyors and removal companies. There are many emails, many documents and many deadlines.
Scammers exploit that complexity.
Some property scams are also linked to fake investment opportunities. Read more here: Investment Scams: How to Spot Fake Opportunities Before You Lose Money.
They may impersonate:
- A solicitor
- A conveyancer
- An estate agent
- A mortgage broker
- A lender
- A buyer or seller
- A payment department
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Solicitors Regulation Authority Scam AlertsUK Finance’s 2025 Annual Fraud Report shows that criminals continue to adapt their tactics, with some fraud types increasing even where others have fallen. That is why homebuyers should treat every payment request carefully.
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UK Finance Annual Fraud Report 2025The Biggest Property Scam: Changed Bank Details
One of the most dangerous property scams is when a fraudster sends fake bank details shortly before completion.
The message may say:
- “Our bank details have changed.”
- “Please send the deposit to this updated account.”
- “Use these details for completion funds.”
- “The previous account is no longer active.”
- “This is urgent to avoid delay.”
This can look convincing because it may appear inside an existing email chain.
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The Law Society: Payment Diversion FraudHow to Protect Your House Deposit
1. Verify Bank Details by Phone
Before sending money, call your solicitor or conveyancer using a known and trusted phone number.
Do not use the number in the email requesting payment.
2. Send a Small Test Payment First
Ask your solicitor or conveyancer whether they recommend sending a small test payment before transferring the full amount.
3. Be Suspicious of Last-Minute Changes
Bank details rarely change at the last minute. Treat any change as a major warning sign.
4. Do Not Rely Only on Email
Email accounts can be hacked or spoofed. Confirm important payment details through another channel.
5. Keep Your Mortgage Adviser Informed
Your mortgage adviser may not handle your legal funds, but they can help you slow down and question anything unusual in the process.
You can learn more about Financial Planning or Contact Heathcote Financial Planning before you act.
Fake Mortgage Broker Warning Signs
A fake broker may offer:
| Warning sign | What it could mean |
|---|---|
| Guaranteed mortgage approval | No broker can guarantee lender approval. |
| Pressure to pay upfront fees quickly | Could be an advance-fee scam. |
| No clear firm details | May not be legitimate. |
| Poor or vague documentation | Red flag. |
| Refusal to explain lender criteria | Could indicate false promises. |
| Request for unusual documents | Risk of identity theft. |
A genuine mortgage adviser should explain the process clearly, provide proper documentation and never pressure you into making rushed payments.
What to Check Before Working With a Mortgage Adviser
Before sharing personal documents or paying any fee, check:
- The adviser’s full name
- The firm name
- Whether the firm is authorised
- The firm’s official website
- The official contact number
- How fees are charged
- What service is being provided
- How your personal data will be handled
You can also speak to Heathcote Financial Planning through our Contact page.
High-Risk Moments During a Property Purchase
| Stage | Scam risk | What to do |
|---|---|---|
| Mortgage application | Fake broker or identity theft | Check adviser details |
| Offer accepted | Fake estate agent messages | Verify contact details |
| Legal process | Conveyancing email fraud | Confirm by phone |
| Deposit transfer | Wrong bank details | Verify before sending |
| Completion | Last-minute pressure | Slow down and check |
| After purchase | Fake utility or council tax messages | Use official websites |
What If You Have Sent Money to the Wrong Account?
Act immediately.
- Contact your bank.
- Tell them you believe you have been the victim of fraud.
- Contact your solicitor or conveyancer.
- Report the issue.
- Keep emails, screenshots and payment records.
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You are leaving our website. The link below will take you to an external website. Heathcote Financial Planning is not responsible for the content, accuracy, or availability of external websites.
Report FraudSpeed matters. The sooner you act, the better the chance of limiting the damage.
Speak to Heathcote Financial Planning Before You Send Money
Buying a property is exciting, but it is also one of the biggest financial commitments you may ever make.
If something feels rushed, unclear or unusual, pause before sending money.
Buying a Home? Speak to a Mortgage Adviser Before You Act
Questions Homebuyers Ask About Property Fraud
Can a solicitor’s email be hacked?
Yes. That is why payment details should be verified using a separate trusted contact method, not just by email.
Should I trust bank details sent by email?
Not without independent verification. Always call using a known number before sending large sums.
Can a mortgage broker guarantee approval?
No. A broker can advise, recommend and support an application, but lender approval depends on criteria, affordability, credit status and documentation.
What if I feel pressured to complete quickly?
Pressure is exactly when mistakes happen. Stop, verify and ask for professional guidance.
Buying a Home?
If something feels rushed, unclear or unusual, pause before sending money. We can help you understand the mortgage process and question anything that does not feel right.
Speak to Heathcote Financial PlanningDisclaimer
The content in this article is for educational purposes only and should not be considered financial, mortgage, legal or fraud advice. Mortgage advice depends on your personal circumstances. Your home may be repossessed if you do not keep up repayments on your mortgage. If you believe you have been the victim of fraud, contact your bank, solicitor and Action Fraud immediately.
Company Registration
Heathcote Financial Planning is a trading style of The Mortgage and Protection Partnership Ltd, authorised and regulated by the Financial Conduct Authority, number 612049. Registered address: Olympus House, Olympus Park, Quedgeley GL2 4NF. Company number 08734287.