Leeds property news: more mortgage fraud cases will come before courts, says legal expert

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YORKSHIRE’S leading fraud legal practice is warning that more property and mortgage fraud prosecutions are likely in the future.

YORKSHIRE’S leading fraud legal practice is warning that more property and mortgage fraud prosecutions are likely in the future.

The claim is made by Aziz Rahman, founder of Rahman Ravelli Solicitors, the only Yorkshire legal practice of fraud specialists to be awarded top ranking in the prestigious ‘The Legal 500’ guide to solicitors.

Mr Rahman believes a number of factors are likely to ensure that more cases of mortgage and property fraud make it to court. The prosecutions, he believes, will involve people being accused of: obtaining mortgages by deception, by using false documents or other proof of identity or residence and obtaining property with proceeds of crime.

Mr Rahman, a specialist in fraud and business crime, said the property boom in the early part of this century had led to fraudulent activity in the property market. Mr Rahman said: “The financial crisis led to a tightening of lending by the banks but this has not stopped criminals looking to mortgage fraud as a way of obtaining large amounts of money. The authorities are looking at this more closely, which will lead to more prosecutions. Banks are now taking greater steps to alert the authorities of any suspicions they may have of money laundering.

“Anyone making false mortgage applications is coming under greater scrutiny, those looking to buy property with criminal proceeds more likely to be investigated and a greater awareness among the authorities criminals will go to ever more complex lengths to defraud lenders. When all these factors are considered, it is inevitable that more fraud cases involving mortgages and property will come to court.”

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