23% surge in mortgage fraud

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Published by Max Salsbury for 24dash.com in Housing and also in Finance, Legal

There was a 23% rise in attempted mortgage and savings fraud between April and June this year, new research has revealed.For every 10,000 mortgage applications made in the period, 39 were identified as fraudulent, up from 32 per 10,000 in the same period in 2011.The analysis also showed that the majority of attacks on mortgage products come from first party fraudsters - individuals misrepresenting their own circumstances. Almost a quarter (24%) of attempted mortgage fraud was due to individuals ...

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