Mortgage lenders reporting borrowers to Cifas

by Aaron Strutt

Feb 21 2014

Homeowners who let rooms in their property without permission or submit incorrect income figures when applying for a mortgage are being reported for fraud.

One of the UK's largest building societies recently reported one of their existing customers to Cifas, the national fraud database, for letting part of his property out on a bed and breakfast basis.

Another borrower looking to remortgage was reported to Cifas for putting income figures on the application form the lender felt the applicant was unable to prove.

Aaron Strutt, product manager at Trinity Financial, told The Sunday Times: “It seems that some of the banks and building societies are so hot on limiting fraud at the moment that they are more likely to make an example of customers than they used to be.”

February 21, 2014