At one point or another most people in the UK have heard the term mortgage fraud before. While most people may consider mortgage fraud to be the domain of professional con artists and hardened criminals, this is not necessarily the case.
Mortgage fraud encompasses a wide range of activities and a growing number of otherwise law abiding UK citizens are committing the crime at least once in their lifetime without being aware of it.
Below is a list of several activities which are considered mortgage fraud in the UK.
False Information on Mortgage Applications
Most mortgage applicants in the UK are likely to only ever apply for a mortgage on their own home. An individual who fits into this category will probably remortgage or move home at least once during their lifetime and will therefore apply for residential mortgages on several different occasions.
For this type of borrower there is a limited number of ways they can purposely or inadvertently commit mortgage fraud. These methods include exaggerating income and providing false details on other parts of the application form.
The most likely of the above activities this type of borrower...
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