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  • FIRST POST
    • kempstar
    • By kempstar 14th Jun 17, 10:34 AM
    • 131Posts
    • 14Thanks
    kempstar
    Is this mortgage fraud or conspiracy to fraud?
    • #1
    • 14th Jun 17, 10:34 AM
    Is this mortgage fraud or conspiracy to fraud? 14th Jun 17 at 10:34 AM
    Hello

    I am in the middle of a dispute with a mortgage broker. Part of what they have done was that they asked me to not disclose incentives to my mortgage lender. I refused this, and told my Solicitor straight away. They still very much intended to hide these incentives. The incentives included - stamp duty paid, free legals, rental guarantee for six months, free property management for six months and interest on exchange deposits.

    Here is the relevant email from the broker-

    Please note that the developer contributions being offered can affect the lending (the value of the contributions would be seen as cash incentives and as such would be taken off the purchase price) so we would have to ensure they werent made known to the valuer. Ive made XXXXX aware of this, so that he is up to speed and we would ensure that the developer didn’t disclose this on his paperwork too.

    (XXXXX is a broker in the firm)

    I have contacted ActionFraud and also the Property Ombudsman Service, and they have both been no help whatsoever. I want to make a serious complaint against the firm, and want to know how much leverage this gives me.
Page 2
    • kempstar
    • By kempstar 15th Jun 17, 9:07 AM
    • 131 Posts
    • 14 Thanks
    kempstar
    property sourcing company with connections.....

    I thought people had stopped falling for those scams after Inside track and Instant Access Properties took people for a big ride back in 2000s..
    Originally posted by getmore4less
    Thats really useful thanks.

    The company in question has been around for 20 years plus. It is certainly not a scam company, nor is this a scam, however, with this particular development they have handled things particularly badly.
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