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awaytogo

Another Mortgage Scam

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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 by awaytogo

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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.

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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 :blink:

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.......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 :blink:

In my Mind the people who lent the money at those silly prices should also be in the dock.

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