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More borrowers get economical with the truth

14 April 2011
Written by rosalind renshaw

Mortgage fraud increased by 14% in 2010, credit rating agency Experian has said.

It reports that last year there were 32 attempts at fraud for every 10,000 applications.

Attempted frauds typically involved individuals inflating salaries and hiding an adverse credit history.

Nick Mothershaw, director of fraud and identity solutions at Experian, said: “Fraud in the UK has been fuelled by the recession’s aftermath, and it is likely that financial services providers could see fraud attempts rise during 2011.”

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