Mortgage fraud will not help borrowers, expert says

CEO of Alexander Hall mortgage advisors Andy Pratt said that lying to lenders will not longer help mortgage or remortgage customers secure a loan.

Pratt said that, with so much emphasis now on deposits rather than repayments, lying about income levels will make little difference when applying for a mortgage.

He also said that remortgage customers may find themselves “stuck” with their current mortgages as lending criteria become more strict.

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