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The incidence of mortgage fraud has decreased to some extent over the past couple of years, but it is still going on, and lenders are putting more and stricter regulations on borrowers asking for loans on buy-to-let properties. According to uklandlordnews.co.uk lenders lost around £1 billion to mortgage fraud in 2010 as opposed to nearly [...]  A mother of three and former legal executive has been jailed for her participation in a £1.25m mortgage fraud that involved fake mortgage applications. Humaira Shah, 46, of Luton submitted different applications to a number of lenders that amounted to an attempt of almost £3m in fraud. She was part of a network of organized crime [...] Fraud relating to property has increased so much that the Law Society has been forced to issue a warning. Householders are particularly worried about falling victim to this kind of crime and are willing to take any advice offered as to the prevention. The Law Society is advising homeowners to avoid any schemes or insurances [...] There is another attempt to jail the Belfast solicitor that originally received a suspended 4 year sentence in November of 2009 for mortgage fraud of £445,000. Breaking an injunction by drawing on a pension fund, Philip Krown may be jailed for contempt of court by the Law Society. After having it put into an account on [...] One out of every five financial frauds that occurs within the UK is related to mortgages and the FSA is taking a stand to alter regulations leaving the question open of how the market can help. Stoy Hayward, the BDO, stated that one out of every frauds pertain to mortgage and that the actions by the [...] |
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