Four arrested over £9m mortgage fraud

All four, aged 56, 46, 39 and 31, were arrested yesterday (Tues) morning on suspicion of conspiracy to defraud. The operation covered North West London, Surrey, Hertfordshire, Milton Keynes and Northampton. Steve Head, detective chief superintendent of the City of London Police, says there has been a sharp increase in reported cases of mortgage fraud in the past 18 months. "Typically a criminal gang, often including surveyors and solicitors, use false valuations and tenancy agreements to persuade lenders to provide loans far exceeding the worth of their properties," he says. ...