Mortgage Fraud Solicitors
Updated on Saturday 12th November 2022
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Gaining easy money is always in the attention of criminals, no matter the ways in which they can fool victims. Mortgage fraud is a serious crime for which imprisonment is issued, if offenders are found guilty. If you are looking for legal advice and representation, it is recommended to talk to our mortgage fraud solicitors. Our team of criminal defence solicitors in London is at your service if you have been a victim of mortgage fraud or if you have been accused of such crimes.
What is mortgage fraud?
Mortgage fraud is related to the following criminal activities:
- Persons who claim to be borrowers and act on behalf of real mortgagors, looking to make a real estate purchase.
- Asking for a higher mortgage than the real price on the market.
- False evaluators decide a higher price for specific properties, working closely with a false real estate broker.
- Fictitious real estate transactions like remortgages can involve false vendors or buyers.
It is highly recommended to get in touch with a mortgage fraud lawyer and ask for immediate legal advice if you have been a victim of such frauds or accused of such serious crimes. The efforts of the British authorities in the real estate sector have developed in recent years especially after the economic crisis when increasing property prices became suspicious for mortgage fraud.
What are the accusations for mortgage frauds?
According to the Proceeds of Crime Act 2002, prosecutors in UK can charge criminals with money laundering, conspiracy to defraud, or fraud by false representation. No matter the case, the implications, and the consequences are severe, meaning that if the case goes to the court of law, the authorities can confiscate a large part of the assets. With extensive experience in this area, our mortgage fraud solicitors are here to provide immediate legal advice and support. They can help you drop the charges by adopting a consistent approach. Even though mortgage fraud cases are complex most of the times, it is best to talk to a mortgage fraud lawyer in London and solicit complete legal advice.
Persons seeking asylum or who have been victims of human trafficking may be eligible for legal aid. In such cases, specialist help is needed, and one of our legal aid solicitors in London can be of use to you. The circumstances will be analyzed, as well as the methods by which the necessary legal assistance can be provided. Therefore, we invite you to contact our specialists and benefit from immediate legal advice.
Persons seeking asylum or who have been victims of human trafficking may be eligible for legal aid. In such cases, specialist help is needed, and one of our legal aid solicitors in London can be of use to you. The circumstances will be analyzed, as well as the methods by which the necessary legal assistance can be provided. Therefore, we invite you to contact our specialists and benefit from immediate legal advice.
Mortgage fraudsters and unwanted consequences
Mortgage lenders or false real estate agents use varied scams or loan modifications in their attempt to defraud vulnerable proprietors who at a certain point are facing financial problems. Unfortunately, mortgage frauds are extremely injurious to creditors who might be in the unwanted position of not being paid in the case the borrowers misrepresent the financial data. Moreover, offenders might decide on using mortgage loan schemes to steal from lenders by operating the entire mortgage and real estate transaction procedure.
Unfortunately, such cases lead to several unwanted consequences, especially involving the communities because numerous properties will remain empty. In many cases, mortgage frauds lead to victims who find out they have been robbed and have no place to stay. It is definitely serious and recommended to talk to our mortgage fraud solicitors in London and ask for legal support and representation if you are a victim of mortgage fraud.
On the other hand, if you are a person who was accused of mortgage fraud, we kindly invite you to get in touch with our mortgage fraud lawyer in London. You can also watch the following presentation:
Unfortunately, such cases lead to several unwanted consequences, especially involving the communities because numerous properties will remain empty. In many cases, mortgage frauds lead to victims who find out they have been robbed and have no place to stay. It is definitely serious and recommended to talk to our mortgage fraud solicitors in London and ask for legal support and representation if you are a victim of mortgage fraud.
On the other hand, if you are a person who was accused of mortgage fraud, we kindly invite you to get in touch with our mortgage fraud lawyer in London. You can also watch the following presentation:
How can a mortgage fraud solicitor help?
Mortgage fraud accusations are extremely serious and persons accused and found guilty of such type of crimes can be sent to jail for several years. Instead of dealing with unwanted or false accusations, it is recommended to get in touch with a mortgage fraud solicitor and let him/her direct your case to the best possible result. Such a case is quite challenging, especially if the prosecution intervenes with specific evidence that can be attacked in a court of law. It is important to know that an investigation in your case will be commenced once such accusations have been brought to you.
If your case involves the police and if you are kept in custody, you should get in touch with a criminal lawyer in London who can explain your rights and who can offer immediate legal advice, whether over the phone or at the police station. Our experienced mortgage solicitors in London are at your service right from the beginning and will act in a proactive manner by starting to verify all the accusations and prepare the defence for your case.
Particular buyers may commit mortgage fraud by contracting a higher mortgage than they are allowed, with untruthful information about income, identity, debt obligations, employment and about the prices to be paid. The buy-to-let market in the UK is predominantly weak to mortgage fraud, whether through new-built apartment facilities or large-scale restoration developments, and many commercial assets are caught up. If you consider you have been involved in mortgage fraud, you may solicit legal assistance from our mortgage fraud solicitors.
If found guilty, fraudsters may receive about two years of imprisonment, most of them without any suspension. It is good to know that mortgage fraud is a serious offence that can be punished with sentences, fines, or payment restitutions. A probation sentence is applied for a mortgage fraud conviction besides fines and implies certain rules specified by the Court of Law in the UK. The offender will have to make periodical reports to the probation officer in charge of his case.
Bankers, mortgage brokers, real estate agents, or accountants who are suspects of mortgage fraud will be investigated by the authorities. The insurance companies have the right to ask for specific investigations in this area and also ask for the legal advice of mortgage fraud solicitors in London. Such an investigation can also implicate the family members or friends and question about the financial means of the person accused of mortgage fraud.
Unfortunately, mortgage fraud can also implicate persons who do not have any interest in the property affected, or even fictitious persons under which a property sale can take place. Mortgage frauds can take various forms, so individuals accused of crimes like these should talk to one of our legal advisors. Once an investigation takes place, you should get in touch with our team of mortgage fraud solicitors in London and find out how we can help.
You should definitely talk to our mortgage fraud solicitors and ask for complete legal advice. We have been hired for cases in which our clients have been unfairly accused of mortgage fraud in UK. For instance, they have been accused they gave misleading information to the lender or creditor in order to make a profit on a mortgage. Such cases can be dismissed if there is no correct evidence to sustain the accusations. With complete legal advice offered by one of our mortgage fraud solicitors, the false accusations of mortgage fraud can be dropped and clients can continue with their life without such problems. If you confront such issues, please feel free to get in touch with our mortgage fraud solicitors in London and ask for legal advice right away.
We remind the importance of having complete legal advice by your side at the time you are accused of mortgage fraud and also detained by the police. In most cases, people do not know their rights and have no idea what happens next. The police can solicit offenders to provide personal information and also ask for access to their phones and contacts.
It is important to know that you should first ask for legal advice and representation before answering to the police questions or making any other move. The pressure and tactics of the police officers in charge of your case of mortgage fraud accusations might lead to unwanted consequences, so if you would like to avoid such situations, please feel free to discuss them with one of our mortgage fraud solicitors.
Criminal groups are often involved in mortgage fraud. The main goal is to launder money from illegal businesses, including the sale of drugs and human trafficking. The mechanism on which such criminal groups are based involves the overvaluation of illegally acquired properties with the help of false documents, followed by an even greater increase in the price when the property is put up for sale. Fraudulent agreements are other crimes that involve commercial properties rented by various businessmen. The implications and consequences are quite large, and such criminal groups are frequently targeted by the authorities.
We remind you that victims of such crimes are advised to use the legal services offered by our mortgage fraud solicitors. Experience will speak for itself for every situation that comes to the attention of our specialists, so don't hesitate to talk to us.
Of course, when there are suspicions about a property that is sold several times in a fairly short period of time, the authorities can be notified or even notified ex officio, if such a case comes to their attention.
Financial transactions with fake checks, raising a price for a property, although its price is estimated according to market data, or a payment made by someone other than the seller mentioned in the documents can be suspicious situations of mortgage fraud. In such cases and if the persons accused of this type of fraud are found guilty, a custodial sentence can be enforced by the authorities. If you are faced with a situation like the above, it is recommended to turn to specialist legal advice provided by our mortgage fraud solicitors in London.
Individuals who deal with mortgage fraud are quite creative when it comes to deceiving creditors in order to finally obtain a much larger mortgage than would normally be the case. There is a series of information that can be falsified, and among them, first of all, identity. Added to this is the valuation of the property, which does not reflect reality, the fictitious place of work, and the supposed salary.
But the bank has the power to block the respective transaction if the proposed property is in a serious state of degradation and is worth much less than the mortgage for which the loan was made. This point is reached if the information provided is discovered to be false and if the authorities also intervene to solve the case.
Another common practice in mortgage fraud is to use offshore companies. The mechanism is simple and involves inflated mortgages and the sale of property for groups of companies. Non-bank creditors who focus more on marketing investments for real estate investors can also enter this scheme, because, in most cases, they have less protection than conventional creditors.
Even so, such schemes can be detected at a given moment, and those found guilty will pay several years in prison, depending on the severity of the crimes discovered.
If you are involved, willingly or unwillingly, in such criminal acts, we recommend that you talk to a specialist in the field. Our mortgage fraud solicitors have the necessary experience and can propose a series of defense strategies before the courts.
There are many types of mortgage frauds and criminals have no limits when attempting to deceive someone. The main mortgage frauds encountered in the UK are the following:
If your case involves the police and if you are kept in custody, you should get in touch with a criminal lawyer in London who can explain your rights and who can offer immediate legal advice, whether over the phone or at the police station. Our experienced mortgage solicitors in London are at your service right from the beginning and will act in a proactive manner by starting to verify all the accusations and prepare the defence for your case.
The annual mortgage fraud in the UK rises at about £ 1 billion, which demonstrates it is a major problem in the country. In simple words, mortgage fraud is a crime that involves illegal financial gains from the property market in the UK. Mortgage fraud takes place when a client buys a house at a low price. This is the moment when an evaluator agrees to value the home or apartment at a much higher price. The new proprietor then sells the assets at overestimated revenue, giving the evaluator a certain part of the income.
Organized criminal groups purchase properties with false identities and then fail to pay the mortgage. Our mortgage fraud solicitors in London can provide you with details and legal assistance if you are being accused of such criminal offence.
Opportunistic mortgage fraud in the UK
Particular buyers may commit mortgage fraud by contracting a higher mortgage than they are allowed, with untruthful information about income, identity, debt obligations, employment and about the prices to be paid. The buy-to-let market in the UK is predominantly weak to mortgage fraud, whether through new-built apartment facilities or large-scale restoration developments, and many commercial assets are caught up. If you consider you have been involved in mortgage fraud, you may solicit legal assistance from our mortgage fraud solicitors.
The sentence for mortgage fraud
If found guilty, fraudsters may receive about two years of imprisonment, most of them without any suspension. It is good to know that mortgage fraud is a serious offence that can be punished with sentences, fines, or payment restitutions. A probation sentence is applied for a mortgage fraud conviction besides fines and implies certain rules specified by the Court of Law in the UK. The offender will have to make periodical reports to the probation officer in charge of his case.
What happens in an investigation for mortgage fraud?
Bankers, mortgage brokers, real estate agents, or accountants who are suspects of mortgage fraud will be investigated by the authorities. The insurance companies have the right to ask for specific investigations in this area and also ask for the legal advice of mortgage fraud solicitors in London. Such an investigation can also implicate the family members or friends and question about the financial means of the person accused of mortgage fraud.
Unfortunately, mortgage fraud can also implicate persons who do not have any interest in the property affected, or even fictitious persons under which a property sale can take place. Mortgage frauds can take various forms, so individuals accused of crimes like these should talk to one of our legal advisors. Once an investigation takes place, you should get in touch with our team of mortgage fraud solicitors in London and find out how we can help.
What happens if you are falsely accused of mortgage fraud?
You should definitely talk to our mortgage fraud solicitors and ask for complete legal advice. We have been hired for cases in which our clients have been unfairly accused of mortgage fraud in UK. For instance, they have been accused they gave misleading information to the lender or creditor in order to make a profit on a mortgage. Such cases can be dismissed if there is no correct evidence to sustain the accusations. With complete legal advice offered by one of our mortgage fraud solicitors, the false accusations of mortgage fraud can be dropped and clients can continue with their life without such problems. If you confront such issues, please feel free to get in touch with our mortgage fraud solicitors in London and ask for legal advice right away.
Legal advice if arrested for mortgage fraud accusations
We remind the importance of having complete legal advice by your side at the time you are accused of mortgage fraud and also detained by the police. In most cases, people do not know their rights and have no idea what happens next. The police can solicit offenders to provide personal information and also ask for access to their phones and contacts.
It is important to know that you should first ask for legal advice and representation before answering to the police questions or making any other move. The pressure and tactics of the police officers in charge of your case of mortgage fraud accusations might lead to unwanted consequences, so if you would like to avoid such situations, please feel free to discuss them with one of our mortgage fraud solicitors.
Mortgage fraud and organized crime groups
Criminal groups are often involved in mortgage fraud. The main goal is to launder money from illegal businesses, including the sale of drugs and human trafficking. The mechanism on which such criminal groups are based involves the overvaluation of illegally acquired properties with the help of false documents, followed by an even greater increase in the price when the property is put up for sale. Fraudulent agreements are other crimes that involve commercial properties rented by various businessmen. The implications and consequences are quite large, and such criminal groups are frequently targeted by the authorities.
We remind you that victims of such crimes are advised to use the legal services offered by our mortgage fraud solicitors. Experience will speak for itself for every situation that comes to the attention of our specialists, so don't hesitate to talk to us.
Can mortgage fraud be detected in a specific way?
Of course, when there are suspicions about a property that is sold several times in a fairly short period of time, the authorities can be notified or even notified ex officio, if such a case comes to their attention.
Financial transactions with fake checks, raising a price for a property, although its price is estimated according to market data, or a payment made by someone other than the seller mentioned in the documents can be suspicious situations of mortgage fraud. In such cases and if the persons accused of this type of fraud are found guilty, a custodial sentence can be enforced by the authorities. If you are faced with a situation like the above, it is recommended to turn to specialist legal advice provided by our mortgage fraud solicitors in London.
Type of false information for creditors
Individuals who deal with mortgage fraud are quite creative when it comes to deceiving creditors in order to finally obtain a much larger mortgage than would normally be the case. There is a series of information that can be falsified, and among them, first of all, identity. Added to this is the valuation of the property, which does not reflect reality, the fictitious place of work, and the supposed salary.
But the bank has the power to block the respective transaction if the proposed property is in a serious state of degradation and is worth much less than the mortgage for which the loan was made. This point is reached if the information provided is discovered to be false and if the authorities also intervene to solve the case.
Selling properties through offshore companies
Another common practice in mortgage fraud is to use offshore companies. The mechanism is simple and involves inflated mortgages and the sale of property for groups of companies. Non-bank creditors who focus more on marketing investments for real estate investors can also enter this scheme, because, in most cases, they have less protection than conventional creditors.
Even so, such schemes can be detected at a given moment, and those found guilty will pay several years in prison, depending on the severity of the crimes discovered.
If you are involved, willingly or unwillingly, in such criminal acts, we recommend that you talk to a specialist in the field. Our mortgage fraud solicitors have the necessary experience and can propose a series of defense strategies before the courts.
Types of mortgage frauds presented by our criminal defence solicitors in London
There are many types of mortgage frauds and criminals have no limits when attempting to deceive someone. The main mortgage frauds encountered in the UK are the following:
- Professional fraud implies schemes and collaborations by multiple parties like mortgage brokers, accountants, bankers or real estate agents. The main purpose is to get money without taking a house or a building for a potential client.
- A borrowed fraud implies home borrowers who avoid offering significant details and make misstatements to gain a quick profit or a house. This kind of fraud is also known as fraud for housing.
Legal representation from a mortgage fraud solicitor
The first thing to consider when dealing with mortgage fraud accusations is to hire the services of a specialist in this field. The experience of our mortgage fraud solicitors in London will help you decide fast on our legal advice and support because we will attentively analyze your case, right from the start. Individuals or business owners accused of mortgage fraud must have legal representation by their side. Our mortgage fraud solicitors will act in the best interest of their clients and will create the necessary defence as soon as a preliminary discussion with information about the process, consequences and verifications will take place.
Our clients will be informed step by step about the case and the proceedings and will receive complete legal advice and representation in the court of law. Each case of mortgage fraud is unique, yet, the skills and experience of our mortgage fraud solicitors in London will play a major role from the beginning. Below you can find some facts and figures about the mortgage fraud cases in UK for the first 6 months of 2019:
- According to statistics provided by Cifas, 45% of the persons involved in mortgage fraud cases were aged between 31 and 40.
- A 5% increase compared to the last 6 months of 2018 in mortgage fraud cases was registered for the first half of 2019.
- Mortgage fraud by creating a false document increased by 14% compared to the last 6 months of 2018.
Mortgage fraud cases can take many forms and can lead to serious consequences not only in the public space but also among the family members. In cases of serious financial losses, persons found guilty of mortgage fraud can be sent to prison. Before that, you can benefit from complete legal services provided by an experienced mortgage fraud solicitor in London who can create a solid defence and who can represent your interests in the court of law.
We remind you that you can contact our team of mortgage fraud solicitors in London at any time and ask for legal advice and representation for mortgage fraud accusations.