FCA bans father and son duo over fake mortgage applications

Directors of the Glasgow-based firm, Douglas Jones and his son, Derek, acted without due skill and care by failing to ensure that Which Mortgage had appropriate controls in place to ensure good practice, the FCA said. The firm's failure led to it being used by its clients to facilitate financial crime through the submission of false payslips to high street lenders. This included a case where one client applied for a £135,000 mortgage claiming he was an accountant earning £34,348 a year. However a check by the FCA with HM Revenue & Customs found that he was in fact a driving instructor...