Fraudulent applications for mortgages increased by 8% in 2011, according to Experian. Last year was the fifth in a row to see a rise, with 34 in every 10,000 mortgage applications found to be fraudulent, compared to just 15 in every 10,000 in 2006. The vast majority (93%) of cases were down to individuals misrepresenting [...]
Experian
Mortgage application fraud up 8%
Fraudulent applications for mortgages increased by 8% in 2011, according to Experian. Last year was the fifth in a row to see a rise, with 34 in every 10,000 mortgage applications found to be fraudulent, compared to just 15 in every 10,000 in 2006. The vast majority (93%) of cases were down to individuals misrepresenting [...]
UK rental market “flourishing”
The UK rental market is flourishing with an additional 58,000 properties marketed in 2011 compared to 2010, according to Experian’s “Movers’ Index”, which offers insights across the housing market. The number of properties put up for rent rose in every quarter of 2011, with Q3 seeing the most significant year-on-year increase, at 14.46%. Unsurprisingly, seasonal [...]
Credit ratings to include rent arrears
A new service launched by Experian means that tenants in the UK private rented sector could see their credit rating hit if they run into rent arrears. While information about mortgages is currently included in credit reports, rent payment information is not but Experian’s new Rental Exchange will allow tenants’ payment histories to be included, [...]
First-time buyers offered help with lousy credit scores
Halifax has teamed up with Experian to help potential first-time buyers who find that their credit score is blocking their chance of securing a mortgage. The lender currently approves eight out of ten mortgage applications from first-time buyers but wants to help unsuccessful applicants understand what has spoiled their chances and how to turn things [...]
