Mis-sold Mortgage Claims > Mortgage News
No Drop in Mortgage Fraud
Mon, 30 Jan 2012
Economic conditions may have improved. Yet the immense problem of mortgage fraud remains.

Mortgage fraud has, in fact, increased by 14 per cent over the course of the recession .

This acute increase is evident despite banks tightening lending criteria drastically since the onset of the credit crisis.

Discovery of mortgage fraud incidents is on the increase given stagnating house prices as well as the economic slowdown.

Many loans have been obtained fraudulently.

Some financial experts have stated that many criminals consider mortgage advisers to be an 'easy' route for committing mortgage fraud.

Financial services companies have also been targets, with approximately 48 cases worth £172 million.

Mortgage fraud accounts for more than 50 per cent of all fraud committed against the financial sector.
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