Mortgage fraud up 100%

Channel 4 News uncovered figures that suggest mortgage fraud boomed in the last financial year, helped by easier methods of identity theft, and one analysts believes lenders could have billions of pounds worth of fraudulent mortgages on their books. Land Registry records show the amount it paid out to lenders due to fraudulent house purchases hit £4m in 2007/08, up from just £2m in the previous year. Paul Doxey, a forensic accountant at Navigant Consulting believes fraudulent loans may have been used to buy up to 60,000 properties in the UK. He says more than £7bn of fraudulent mortgages...