Are you committing fraud?

Mortgage advisors have hit out against the self cert mortgage fraudsters after the FSA clamp down.

Mortgage advisors have asked the FSA for help in fighting back against the self certification mortgage fraudsters.

In a recent Q and A session with the head of the financial crime policy at the Financial Services Association, mortgage advisors have voiced their concerns over self cert mortgages and fast-track sectors of the mortgage market.

One advisor talked of his experiences in not being able to help a customer, and then learning that they had managed to do a deal with another lender. This obviously lead him to believe that perhaps they have indeed changed some of the information that they originally were using to apply for the mortgage with.

With lenders taking full responsibility for approving mortgages based on the information supplied being true, lenders have a lot on their shoulders when they come to agree a self cert mortgage.

A lender described it as someone giving someone else a gun to rob a bank with and then saying that it is not their problem.