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.”