Mis-sold Mortgage Claims > Mortgage News
Mortgage Fraud Peaks
Fri, 23 Dec 2011
The most recent Experian fraud index report highlights a severe spike in mortgage fraud, particularly in the second half of 2011.

49 out of 10,000 mortgage applications are in being deemed as fraudulent and the credit records agency reporting that 2011 fraud figures for 2011 are 77 per cent higher than 2010.

This increase in mortgage fraud can adversely impact property owners who are considering selling their property quickly.

On several occasions it has been known that where a property sale with a fraudulent mortgage has completed successfully, and mortgage lenders have investigated the transaction, mortgage fraud has been discovered and in certain cases a reversal sales transaction has been undertaken.

So if you are looking to sell your property quickly then be careful. There are many investors who wish to add to their portfolios and may not wish to go by the book in order to do so.

This is an increasing problem in the mortgage industry and something we need to protect the industry and customers from.
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