FSA warns of heavier fines as fifth mortgage IFA banned

Isah Attayi Mohammed, the only broker at Initial Financial Services (IFS), inflated income statements and filled in inaccurate employment details on applications for both himself and IFS customers between June 2006 and February 2008, the FSA says. In one case, Mohammed declared his 2005 income at £52,000 to one lender, and £126,000 to another – both of which were inconsistent with HMRC figures. In another, the same customer was described on two separate decision-in-principal forms as both a bus operator earning £25,000 and a software engineer on £42,000. In an online form, the customer wa...