Sunday, August 26, 2007
No subprime crisis in the UK ….. NOT!
Mortgage brokers are encouraging prospective homeowners to lie about their income in a bid to secure massive loans, it is claimed. Sandra Ashcroft, 59, said she was advised by brokers to lie about her salary to secure a £102,000 loan in 2003. Two years later she increased that loan to £122,000 after claiming she was a £35,000-a-year senior midwife. In fact, she received an annual wage of between £3,000 and £5,500.