Mortgage fraud spirals out of control
By Sharlene Goff and Daniel Thomas in London
Published: February 8 2008 22:02 | Last updated: February 8 2008 22:02
“Endemic” mortgage fraud on new homes has triggered a wave of repossessions and forced a widespread crackdown by regulatory authorities.
Initiatives to address lenders’ concerns that residential mortgage fraud is on the rise are either under way or will be launched by the Council of Mortgage Lenders, Financial Services Authority – the City watchdog – the Royal Institution of Chartered Surveyors and police forces around the country.
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