Fraudulent mortgage applications increase as 'financially stressed' people lie about their credit history | Mail Online

Fraudulent mortgage applications increase as 'financially stressed' people lie about their credit history | Mail Online

The number of people lying about their jobs and trying to hide their bad credit history in order to get a mortgage has increased by eight per cent in a year, a study suggested today.
Fraudulent mortgage applications increased for the fifth year in a row and hit a record 34 out of 10,000 applications in 2011, more than double the 15 in every 10,000 applications found in 2006 when the figures began, credit reference firm Experian said.
The study, which was compiled using information from the National Hunter and Insurance Hunter fraud prevention systems, said there was a four per cent increase in financial services application fraud overall, which was also driven by a growth in insurance and current account fraud.