Fraudulent mortgage broker banned by FSA

clock

The FSA has banned a Belfast-based mortgage broker, trading as Fast Track Mortgage and Finance Consultants, for his involvement in fraudulent mortgage applications.

Gerard McStravick was found to have submitted a number of applications containing false income information, including false documents, faked pay slips and faked P60 forms. McStravick was knowingly involved in the submission of at least 13 false mortgage applications. The FSA found that three applications featured the same address, though they referred to three different employers, but it was a close relative of McStravick that actually occupied the address. He also made a number of false statements in a compelled interview and denied he had any knowledge of the fraud. McStravick attempt...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on Mortgages

Client conundrum: Mortgage overpayments versus investments

Client conundrum: Mortgage overpayments versus investments

1.4 million people will see mortgage deals end this year

Laura Suter
clock 22 February 2023 • 3 min read

Summer economic update: Sunak confirms stamp duty holiday in 'mini-Budget'

Mini Budget

Hannah Godfrey
clock 08 July 2020 • 2 min read

FCA sounds alarm on equity release advice

'Tick-box exercise'

Hannah Godfrey
clock 17 June 2020 • 1 min read