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Bradford & Bingley admits it can do little to combat self-cert fraud

Bradford & Bingley can do little to tackle self-cert mortgage fraud in which borrowers lie about their income.

This admission emerged came during a grilling of the nationalised lender’s chief executive Richard Pym and chairman Rod Kent at a Parliamentary Treasury Select Committee session held on November 18.

Pym said: “Most of our fraud analysis work is focused on buy-to-let, where there are false valuations. With self-cert mortgages, it is hard to go back in time to see where borrowers have lied about their income.”


Rate cut is good but tough times are ahead

Buy-to-let broker Mortgages for Business is warning that while the drop in Bank of England base rate is good news there are still tough times ahead in 2009.


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