Buying new property?

Complete the application form below to choose from a variety of mortgage products.

Changing your mortgage?

We help you make sure that you get the best mortgage deals on offer..

Want the Best Deals?

Our mortgage experts will work hard to find you the best mortgage deal to suit your needs.

Avoiding Mortgage Broker Fraud

Each day our mailbox bristles with new lender mortgage offers — Zero-interest loans! Bad credit, no credit, bankruptcy? No problem! Pre-approved line of credit! Free hovercraft with auto loan! — I’m sure you’ve received something similar. The question I’m forced to ask myself: How do they stay in business? The answer: Many residents are scammed regularly, so don’t become one of them.

APPLY TO GET THE BEST MORTGAGE DEAL FROM WHOLE OF THE MARKET.

Prospective borrowers need to be on their collective toes when sifting through the modern deluge of lender mortgages. The proliferation of online lending has, unfortunately, allowed a seedy element to creep into the lender mortgage business. Fraudulent practices abound in cyberspace reminiscent of latter-day usury. And elderly borrowers with equity, prospective homeowners with bad credit, and uniformed consumers appear to be the targets of choice. But, despair not — there are plenty of ways to protect yourself against dishonest mortgage brokers.

Before agreeing to loan terms or even tendering application fees, potential borrowers should verify the reliability of the lender and additionally confirm their good standing with the FSA. If a mortgage broker fails to meet with the standards and practices of these agencies, drop them immediately. Your credit record and house are investments much too valuable to entrust with unauthorized mortgage brokers.

The FSA guards against lender mortgage misconduct. Borrowers should refuse to pay upfront costs with the exception of credit report fees and valuation fees (sometimes up to £400). Pay particular attention to “credit insurance” scams — where lenders guarantee (always beware of that word) lines of credit or loans despite poor credit or even bankruptcy. The mortgage broker merely demands a nominal fee from the prospective borrower as a demonstration of good faith. Unfortunately, that good faith is rarely returned and the crooked residential or commercial mortgage broker absconds with the fee.

.CALL US FREE ON: 0161 8774142

.

.