Tag: mortgage fraud

Mortgage fraud increases by 23 per cent

Mortgage fraud increases by 23 per cent

Information services company Experian has reported a 23 per cent increase in the number of people giving false information in order to obtain a mortgage. In the second quarter of this year, 39 out of every 10,000 mortgage applications were found to be fraudulent, compared with 32 in the 2011 second quarter. Lenders have tightened [...]

August 22, 2012 | 0 Comments More
Glaswegian admits to £250k self-cert mortgage fraud

Glaswegian admits to £250k self-cert mortgage fraud

A middle-aged Glaswegian who has been dubbed a local “gangster” has admitted to a £250,000 mortgage fraud. Edward Lyons obtained self-cert mortgages to purchase properties in East Kilbride and Cumbernauld, claiming he was self-employed and earning up to £48,000 a year. At the time, he was working on a community initiative and earning a salary [...]

March 31, 2010 | 0 Comments More
Mortgage fraud industry is “booming”

Mortgage fraud industry is “booming”

Last year saw a steep rise in reported mortgage fraud, new research from BDO has revealed. During 2009 mortgage fraud accounted for 18% of all reported fraud and 27% of fraud in the UK finance and insurance sector. The accounting firm’s spokesman, Simon Bevan, comments: “It may have become more difficult for the person on [...]

January 12, 2010 | 0 Comments More
Co-op and Britannia shrink conveyancing panel

Co-op and Britannia shrink conveyancing panel

The merger of Britannia building society with Co-operative Financial Services has resulted in 3,600 of the mutuals’ conveyancing panel members being dropped. Typically, solicitors on a lender’s approved panel act for the buyer and the lender. However, the system is open to abuse and could facilitate mortgage fraud because the solicitor involved is responsible for [...]

August 24, 2009 | 0 Comments More