Britons committing mortgage fraud

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With lending conditions tightening, many Britons could be looking to presenting their finances in as favourable a light as possible when making mortgage applications.

But this could be tantamount to fraud, an expert warns, even if doing so is a "genuine mistake".

Andy Pratt, chief operating officer for mortgage broker alexander hall, explains: "There have been some cases where, essentially, fraud comes into it.

"People are trying to get a mortgage where their personal circumstances dont really allow that."

But vigilance on behalf of the client, the broker and the mortgage provider can help to identify any issues and avoid such a circumstance arising, he adds.

The comments come as figures from the Bank of England reveal a decline in mortgage approvals.

Some 20 per cent fewer approvals were granted in September when compared with the same period in 2006.

Among those which were granted, a greater proportion were for remortgaging, rather than for house purchase.

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