Mortgage Fraud Double in Last Year!
IFAonline.co.uk is reporting today, that Mortgage Fraud has increased 100% in the last year as a result of increased cases of identity theft and the lax lending criteria of recent years.
Some interesting stats:
The amount of funds paid out to lenders on fraudulent purchases rose from £2m in 2006/2007 to £4m in 2007/2008.
Up to 60,000 UK properties [...]