Big buy-to-let frauds stffl to be revealed

Jones, Lee
August 2009
Money Marketing;8/27/2009, p5
The article focuses on the occurrence of frauds in buy-to-let and self-cert mortgage in Great Britain. Chelsea Building Society says that fraud take place in buy-to-let loans where property value was falsely inflated through collusion between mortgage professionals and valuers. It occurs on self-cert loans where the borrower's income was inflated. Simon Bevan, BDO Stoy Hayward head of fraud, stresses that many more cases are likely to be uncovered by lenders.


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