Mortgage fraud rises by 77pc

MacMickster

Pimperne1 wrote: »

Not really fraud though is it? Most of us have probably told a white lie in order to get a job or position. We know we can do it its just that if those who decide these things are left to their own devices they might pick someone less capable.

Obtaining a loan by misrepresenting your income is most definitely fraud - not a "white lie".

I have posted on here before about a bloke who regularly lets his mouth go in my local. He was investigated recently by the taxman and they decided that his real income which they would tax him on was the amount that he had shown on his mortgage application rather than on his tax return. His accountant had told him to do a deal with the taxman as it would not look good for him going to court to appeal this with the defence of "I was just defrauding the mortgage company".

geneer

nollag2006 wrote: »

In your last (entirely unsolicited) PM to me - you told me you had put me on ignore.

So you didn't ask to be put on ignore.
Fascinating. Thanks for sharing.

nollag2006

geneer wrote: »

So you didn't ask to be put on ignore.
Fascinating. Thanks for sharing.

No problem !

Now that you ask here is the original inarticulate rant:

"Your on ignore now, shame you is just rood and just go to insults. Your stance and attitude smell of childish desperation.

Good buy for good."


The misspellings alone are priceless.

:rotfl:

cotleigh

People overstretching themselves will tend to be caught in the recession when they run in to financial problems.

In general, provided someone is paying their mortgage regularly, the lender has little reason to look at the borrowers financial circumstances, unless maybe they try to borrow even more.

If the borrower got past whatever checks and approvals were there when they applied for the loan, that's usually it, until things go wrong.

But when they get into arrears, or get repossessed, then the bank may look in detail at what they claimed to be earning, or what other loans they have taken out etc.

I wonder if any "increase" in cases is really down to people who bought using lies or phoney documents back in the boom years, hoping that they could wait a while and sell at a profit?

Who are now broke and getting repossessed and this causes the lender to look again at how on earth they managed to borrow all that money in the first place.

Graham_Devon

nollag2006 wrote: »

No problem !

Now that you ask here is the original inarticulate rant:

"Your on ignore now, shame you is just rood and just go to insults. Your stance and attitude smell of childish desperation.

Good buy for good."


The misspellings alone are priceless.

:rotfl:

Except that Geener can actually spell "You're" correctly.

Unlike you and myself, who go for the lazy version without even thinking about it.

If you are going to pretend someone has sent you that, and have a go at the spelling, don't go and mess it up and use the very spelling you have a problem with yourself.

Graham_Devon

So you have been responding to geener. Telling him he had PM'ed you. Given us the "text" of the PM you were discussing geener sending you.

But actually, it's Brit's PM, nothing to do with Geener? And we are supposed to keep up?

!!!!!!. This forum just gets worse by the day.

silvercar

cotleigh wrote: »

People overstretching themselves will tend to be caught in the recession when they run in to financial problems.

In general, provided someone is paying their mortgage regularly, the lender has little reason to look at the borrowers financial circumstances, unless maybe they try to borrow even more.

If the borrower got past whatever checks and approvals were there when they applied for the loan, that's usually it, until things go wrong.

But when they get into arrears, or get repossessed, then the bank may look in detail at what they claimed to be earning, or what other loans they have taken out etc.

I wonder if any "increase" in cases is really down to people who bought using lies or phoney documents back in the boom years, hoping that they could wait a while and sell at a profit?

Who are now broke and getting repossessed and this causes the lender to look again at how on earth they managed to borrow all that money in the first place.

But what are they going to do about it? The borrower is now broke - no money to claim back. Waste money on a court case - to prove what? That they didn't verify income properly?