FSA slaps London mortgage broker with £103k fine and ban


A London mortgage broker who submitted 42 falsified mortgage applications for customers has been banned and fined £103,000 by the FSA.

The regulator has also charged Gary Lester with committing mortgage fraud to obtain a mortgage for himself. Lester, who the FSA found knowingly submitting false and misleading income information for his customers, has been banned him from working within the regulated financial services industry for lacking honesty and integrity. Trading as Lifestyle Mortgages Limited (Lifestyle), in Edgware, North West London, Lester significantly inflated his income from Lifestyle to obtain a mortgage for himself in November 2006. During the investigation, the FSA found 42 out of 48 applications r...

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