Mortgage Fraud Solicitor

Mortgage Fraud Solicitor

Facing allegations of mortgage fraud can be a frightening and overwhelming experience. Mortgage fraud is considered a serious criminal offence, which may lead to severe penalties and long-lasting consequences. At Reeds, our experienced team of mortgage fraud defence solicitors is here to guide and support you through this challenging time. Our Mortgage Fraud Solicitor are experts at assisting those currently facing charges or under investigation of mortgage fraud.

Mortgage fraud is a serious criminal offence that occurs when individuals deliberately provide false or incomplete information during the mortgage application process. Establishing whether mortgage fraud was committed intentionally (through misinformation or omission) or accidentally can be difficult to prove. As a result, mortgage fraud prosecutions have been relatively rare in the past. However, we have observed a significant increase in such cases over the last few years.

If you are convicted of mortgage loan fraud, there can be serious consequences. These can include:

  • Sent to prison.
  • Having a confiscation order issued against you following POCA confiscation proceedings.
  • Having to sell property including your home.
  • Blacklisting against future purchases or borrowing.

A criminal record can have serious consequences for your future, including career, family and future travel plans as a conviction may prevent you from entering other countries. Many of those faced with prosecution for mortgage fraud are of good character and have never faced criminal allegations before. Obtaining legal advice at an early stage is crucial.

Reeds Solicitors is an award winning and leading top-tier criminal defence firm. For legal advice and representation from a specialist mortgage fraud solicitor, please contact us through our contact page here. Alternatively, you can phone 0333 240 7373, or email us at info@reeds.co.uk.

Testimonials and Case Studies

Our mortgage fraud defence solicitors have successfully represented numerous clients across the country. Our team’s dedication and expertise have led to reduced charges, acquittals, and other favourable outcomes.

Acquitted of Multi-Million Pound Mortgage Fraud Charges in Birmingham

The first defendant was accused of involvement in a multi-million pound mortgage fraud over seven years, where both the prosecution and the second defendant were represented by Queen’s Counsel, with the trial involving complicated forensic accountancy evidence. Our mortgage fraud solicitor’s defence also included a mortgage expert witness who provided evidence in relation to mortgage lending behaviour. After a successful defence from our Birmingham Solicitors, the defendant was acquitted of an allegation under the Proceeds of Crime Act at the close of the prosecution case. They were found not guilty unanimously by the jury on all of the mortgage fraud charges.

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FAQ

Mortgage Fraud is a criminal act and occurs when mortgages are obtained fraudulently. Individuals defraud a lender through the mortgage process by making false claims on their application.

Mortgage fraud is an intentional act. Being a misstatement, misrepresentation or omission of information provided by the applicant which is relied upon by the underwriter or lender to process the mortgage.

There are several types of loan fraud common in the UK. These include:

  • False information on mortgage applications – This can include lying about your salary or income.
  • Providing false documentation – Including evidence of income and identification.
  • Undisclosed Transactions – Including withholding information around gifted deposits. Over-valuing properties – A sophisticated type of fraud used by organised crime.

Over the years since the 2008 financial crisis, mortgage lenders have become stricter around their borrowing criteria, making mortgages more difficult to obtain. This has led to an increase in the amount of people making fraudulent mortgage applications, with misrepresenting their income as a large percentage of these. The fraud is committed so that the applicant is granted a mortgage facility which they otherwise would not receive.

Organised Crime groups may use mortgage fraud as a way to launder money. Mortgage fraud can be seen as a profitable and low risk method of using money obtained from illegal activities – including drugs and trafficking.

Organised crime groups have a range of methods of using the mortgage system to do this, including over-valuing property, forging documents and inflating the value of commercial property using fraudulent leases.

Other ways in which organised crime may commit mortgage fraud:

  • Hijacking genuine conveyancing processes.
  • Taking out mortgages in the name of unsuspecting individuals or those who are deceased after identity theft.
  • Taking out several mortgages with different lenders on one address by manipulating Land Registry data.
  • Changing title deeds without an owner’s knowledge to allow the sale of a property.

Mortgage fraud can be perpetrated by a range of individuals, including ordinary people and professionals like homebuyers, mortgage brokers, estate agents, and accountants. Professionals might unintentionally become involved in a person’s mortgage fraud scheme. In some cases, even organised crime groups may be involved in fraudulent activities related to mortgages.

If you are suspected of mortgage fraud, you will be placed under investigation. This may be carried out by the police or by the mortgage lender.

You may be invited to an interview, this can either be a voluntary interview under caution or an interview while under arrest. For further information about interviews under caution, you can visit our

A warrant might be granted to allow access to your property and personal records. These might include phone records, email and social media.

You could be arrested and taken to a police station to be interviewed under caution on suspicion of mortgage fraud.

The most common type of mortgage fraud is misrepresenting an income – whether intentionally or not. This type of fraud can account for around a quarter of all fraud cases.

Mortgage fraud is usually detected by the lender noticing unusual circumstances or behaviour. Other than the usual checks carried out by mortgage lenders, behaviours including multiple re-mortgages and sales of the same property, an unexplained sizeable increase in the purchase price, and the inclusion of another party in the sale (such as deposits paid by a third party, or sales proceeds paid not to the seller but a third party) can all be red flags for possible mortgage fraud.

Behaviours that could signal potential mortgage fraud include inconsistencies in the mortgage application, such as discrepancies in personal or financial information, unexplained funding sources, unusual payment arrangements, fabricated documents, and irregular property valuations. Additionally, red flags for mortgage fraud may arise when parties involved in the transaction have undisclosed personal or business relationships, transactions are rushed, or conveyancing solicitors are used in an unusual manner, for example instructing a solicitor in a different part of the country.

When suspected of mortgage fraud an individual will be placed under investigation by the mortgage lender or the police. If the suspicion is that the mortgage fraud involves organised crime the investigation may be carried out by other law enforcement agencies.

If you are found guilty of mortgage fraud, you may be required to repay the lender the amount of money defrauded. If you are unable to repay, then your property may be repossessed. In some cases you may be handed a prison sentence or fine and end up with a criminal conviction. This can have ramifications upon your work and career, family and future travel plans.

It is important to obtain specialist legal advice at the earliest opportunity. At all stages of the investigation and process, expert guidance and advice may avert the more dire

consequences. Your mortgage fraud lawyer should help you navigate any interviews and assist during the investigation process to improve your chances.

Mortgage fraud offences are sentenced under the Fraud Act 2006.

During the sentencing a court will take into account multiple factors into their decision. These will include your culpability, your plea and defence, previous convictions and character, and the level of harm inflicted through the offence.

If you are facing allegations of Mortgage Fraud, then speak with a mortgage fraud solicitor as soon as possible. Obtaining legal advice from an experienced solicitor at an early stage is crucial. Many of those faced with prosecution for mortgage fraud are of good character and have never faced criminal allegations before. As such, without experience of the justice system it is easy to make mistakes without proper guidance and advice.

If you would like to discuss any aspect of your case with one of our mortgage fraud solicitors, please contact us through our contact page here. Alternatively you can phone 0333 240 7373, or email us at info@reeds.co.uk.

Expert mortgage fraud solicitors can assist you by:

  • carefully reviewing all of the evidence and identify weaknesses in the prosecution’s case.
  • building a robust defence strategy tailored to your case.
  • ensuring that you are represented by expert mortgage fraud defence barristers in court.
  • instructing and obtaining expert evidence that can help your defence.
  • working tirelessly to achieve the best possible outcome for you which may include negotiating with the prosecution to achieve reduced charges, securing an alternative resolution, or acquittal.