awaytogo Posted September 7, 2013 Share Posted September 7, 2013 (edited) They are Just getting the easy meat , there are a lot more out there. http://www.bbc.co.uk/news/uk-wales-23996480 Mortgage fraud in north Wales to see more prosecutions I LIKE THIS BIT. The prosecution said the deceit was achieved by inflating the actual value of the property used as security, hiding the fact that in some cases no deposit was put down, or inflating the rental income potential to make the mortgage rate more acceptable. Edited September 7, 2013 by awaytogo Quote Link to comment Share on other sites More sharing options...
spyguy Posted September 7, 2013 Share Posted September 7, 2013 They are Just getting the easy meat , there are a lot more out there. http://www.bbc.co.uk/news/uk-wales-23996480 Mortgage fraud in north Wales to see more prosecutions I LIKE THIS BIT. The prosecution said the deceit was achieved by inflating the actual value of the property used as security, hiding the fact that in some cases no deposit was put down, or inflating the rental income potential to make the mortgage rate more acceptable. There seems to be a lot arriving at the courts at the mo: http://www.thenorthernecho.co.uk/news/10658026.Stabbed_solicitor_was_facing_fraud_charges/?ref=mr I'm guessing an elaborate suicide in an attempt to make sure his wife got the life insurance. Quote Link to comment Share on other sites More sharing options...
The Masked Tulip Posted September 7, 2013 Share Posted September 7, 2013 Love the way the article mentions the 2008 property crash - we must have missed that. Quote Link to comment Share on other sites More sharing options...
Bemusedmover Posted September 7, 2013 Share Posted September 7, 2013 Love the way the article mentions the 2008 property crash - we must have missed that. .......It also helps to explain the wild asking prices in North Wales some (as mentioned elsewhere on the board) are best described as deluded..... ........however they clearly owe more on their mortgage than the property is worth Quote Link to comment Share on other sites More sharing options...
interestrateripoff Posted September 7, 2013 Share Posted September 7, 2013 Property over valued!!! How can that be when prices only ever go up? Quote Link to comment Share on other sites More sharing options...
awaytogo Posted September 9, 2013 Author Share Posted September 9, 2013 .......It also helps to explain the wild asking prices in North Wales some (as mentioned elsewhere on the board) are best described as deluded..... ........however they clearly owe more on their mortgage than the property is worth In my Mind the people who lent the money at those silly prices should also be in the dock. Quote Link to comment Share on other sites More sharing options...
slacker Posted September 9, 2013 Share Posted September 9, 2013 Property over valued!!! How can that be when prices only ever go up? 'prematurely overvalued' is probably more accurate. Quote Link to comment Share on other sites More sharing options...
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