Broker banned for inflating incomes

A lender highlighted its concerns about the broker to the FSA earlier this year, prompting a full investigation. Asim Hussain, from Lifestyle Mortgages in Southall, found he had applied for mortgages for both himself and other using false information. He applied for a mortgage with a heavily inflated declaration of his income from his business, suggesting he earned as much as £155,347 in profit. Hussain also submitted 18 applications on behalf of individuals, which contained false income and employment information, and did not correspond with information sent to HM Revenue & Customs. In...