Unsecured personal loan

[Cath1234]

When applying for an unsecured personal loan if I state that I am a home owner even though I am not can the loan company find out if I am lying?  (By the way I am using the money I get from the loan to buy into my partners property and so will be a home owner after I receive the loan)

[Didwot]

If they want to check, it is easy to find out from HM Land Registry whether or not you own your home, but they probably will not bother. It is, of course, a criminal offence to obtain a loan by giving false information.

[kempie]

It is, of course, a criminal offence to obtain a loan by giving false information.

I don't recall Peter Mandelson being prosecuted.

[ursula62]

Have you told the loan company that this is what you want the money for? They are far more likely to give you a secured loan than an unsecured one.

[Didwot]

Yes it is certainly an offence. It is, I believe, called "obtaining pecuniary advantage by deception" and is dealt with in hte Theft Act 1968.
Not every one who commits a crime is prosecuted. I recall some suggestions being made about Mr Mandleson's conduct at the time. Generally speaking the prosecuting authorities have a discretiokn as to whether or not they prosecute. If you embellish your status to get a securted loan with plenty of security there is far less risk of the lender losinng out than if you are seeking an unsecured loan.

[Ducati]

Kempie - hear hear: I've mentioned this duplicitious little man before on this site and his criminal activity, and  been well and truly shouted down.

 

Had you or I done what this truly awful character did, we would be behind bars: I was disgusted at the time that he wasn't prosecuted, and I'm still disgusted that his reward for committing a criminal act was to receive a cushy little number in Europe. 

[Ducati]

Truly it pays to have friends in high places.