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ARTICLE · 02 NOVEMBER 2006

Property Professionals’ Liability Briefing, Autumn 2006

Barlow Lyde & Gilbert LLP
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The recent press coverage of suspected mortgage fraud is a reminder that the widespread mortgage fraud uncovered in the 1980s and 1990s is still with us and thriving. However, the bad news for valuers and insurers is that the mortgage stories making the news may only be the tip of the iceberg.

United KingdomLitigation, Mediation & Arbitration

Article by BLG’s Professional Liability and Commercial Litigation Team

The recent press coverage of suspected mortgage fraud is a reminder that the widespread mortgage fraud uncovered in the 1980s and 1990s is still with us and thriving. However, the bad news for valuers and insurers is that the mortgage stories making the news may only be the tip of the iceberg.

The popularity of buy to let mortgages has partly been responsible for the substantial increase in the amount of mortgage lending in recent years. However, the slow down in the property market and the increase in the number of repossessions (discussed in the Autumn 2005 edition of the PPLB) has exposed an increasing number of cases where properties have been deliberately overvalued in order to circumvent the more restrictive lending criteria of buy to let mortgages, leaving lenders at risk of suffering losses when borrowers default.

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