Hot on the heals of a report from KPMG this week a specialist Fraud solicitor in Halifax is warning that the true scale of property and mortgage fraud is yet to be known. Aziz Rahman, principal of Rahman Ravelli Solicitors in Halifax, believes that the full extent of this type of property fraud is neither fully understood or appreciated.
Mortgage and property fraud is a wide net that may involve some or all of:
- Obtaining a mortgage by deception, involving production of false documents such as passports, bank statements and any other form of proof of identity or residence
- Obtaining property with proceeds of crime
- Intentionally misleading the Land Registry as well as lenders
Mr Rahman said the property boom had led to fraudulent and blatantly non-compliant practices across the property market.
In the last three years, his firm has seen an increase in mortgage and property fraud cases involving conveyancing solicitors, licensed conveyancers, mortgage lenders, developers and home buyers in the last three years.