With a range of enticing tax-relief holidays coming to an end on 31st March, demand for UK property is high. Unfortunately, heightened demand can also bring a heightened risk of fraud, with a range of intentional and unintentional mistakes potentially slipping past stretched professionals. Read on to find out how Smartr365 features can help your business combat the risk of fraud, ensuring you have bank-grade security as you operate from anywhere in the world.
Fraud is the most commonly experienced type of crime in England and Wales with an estimated 3.8 million incidents in the year to September 2019, according to the National Crime Agency. With 2020 figures yet to be released many are anxious of an increase, fearing that the economic downturn may have encouraged people to make fraudulent applications.
With less than 10 weeks until the end of both the UK Stamp Duty Holiday and Help-to-Buy scheme, advisors also fear that such tax-relief incentives may encourage an onslaught of rushed applications that either intentionally or unintentionally contain misleading information. While we are delighted to have seen that the latest ONS House Price Index has revealed that heightened demand has inflated UK average house prices by a huge 7.6% over the year to November 2020, we must prevent a similar increase in deceitful applications. With mortgage advisors becoming increasingly stretched under this heightened demand, it is critical that firms protect their work with the optimum digital solutions.
Smartr365 are proud to have announced an exclusive partnership with Digidentity in November, that seamlessly integrated the premium digital ID provider to our end-to-end platform, helping protect the hard work of advisors and their clients. With bank-grade security and credit checking, alongside the identity verification technology behind GOV.UK Verify, Smartr365 is an industry-leading platform that inspires confidence in all its users.
Do you feel that your work and business have sufficient protection against mortgage fraud? Book a demonstration and find out how Smartr365 technology can transform your business.