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Fsa Ban Another 5 - Total Is Now 101

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FSA bans five individuals and fines one, bringing the total number of mortgage intermediary prohibitions to 101

25 January 2011 The Financial Services Authority (FSA) has banned five mortgage intermediaries and fined one of them £104,000. This brings the total number of mortgage intermediaries banned since December 2006 to 101.

Most of the individuals have been banned because they are not fit and proper to work in regulated financial services through failings that led to mortgage fraud.

Mark Thorogood trading as Property Park Mortgages, Colwyn Bay, North Wales and Darren Button formerly of Property Park Mortgages, Colwyn Bay, North Wales

Thorogood, the owner of Property Park Mortgages, has been fined £104,294 and banned from working in regulated financial services.

The FSA found that Thorogood had knowingly submitted fraudulent mortgage applications for himself and his wife, inflating his income from £22,950 to £120,000 and her income from £8,832 to £95,000.

In addition, Thorogood submitted two mortgage applications containing fraudulent information on behalf of a family member. In the first application he stated the family member's income was £85,000 and in the second he stated that it was £130,000; the actual income was £17,610.90.

See the rest of blurb here for your area

http://www.fsa.gov.u.../2011/012.shtml

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Most of the individuals have been banned because they are not fit and proper to work in regulated financial services through failings that led to mortgage fraud.

Mark Thorogood trading as Property Park Mortgages, Colwyn Bay, North Wales and Darren Button formerly of Property Park Mortgages, Colwyn Bay, North Wales

Thorogood, the owner of Property Park Mortgages, has been fined £104,294 and banned from working in regulated financial services.

The FSA found that Thorogood had knowingly submitted fraudulent mortgage applications for himself and his wife, inflating his income from £22,950 to £120,000 and her income from £8,832 to £95,000.

In addition, Thorogood submitted two mortgage applications containing fraudulent information on behalf of a family member. In the first application he stated the family member's income was £85,000 and in the second he stated that it was £130,000; the actual income was £17,610.90.

His work is done.

Colwyn Bay 2 bed bungalow £465k

http://www.rightmove.co.uk/property-for-sale/property-17312211.html

Lots of people in that area could be struggling to pay mortgages that are so high due to fraudulent mortgage applications ramping prices up.

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  • 312 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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