Strands #301 “Festival Of Lights...
Quizzes & Puzzles6 mins ago
If I apply for a loan at Ocean Fianance but lie on the application form that I am a home owner, will they bother to check? A couple of friends have said they probably wouldnt check, some companies just take your word for it. Yes ... I know it is illegal, I can make payments no problem so there would be no reason for them to find out once it had been agreed. I have v. poor credit from my past behaviour and I cannot get a loan now and am desperate. Its just a simple question - so please no sarcastic comments!!
No best answer has yet been selected by goldheart. Once a best answer has been selected, it will be shown here.
For more on marking an answer as the "Best Answer", please visit our FAQ.it's fraud in this country too, and if you have got poor credit anyway i doubt hugely you'll get further credit. I know that data protection act prevents them from ringing your "mortgage lender" and asking them if you have a mortgage, so I don't know how they check - maybe against land registry or something like that. I can't imagine they will just not bother, can you imagine how many people would fleece them otherwise!! Goldheart, why you so desperate, what is it you need so much?
As a lender, I know that as a matter of course, we now (only available recently) do a land registry search. This will give us details of who owns the house and any charges that are registered on the land. It will also give us the cost price of the house if bought in the last 5 years.
This information costs us �2.00 and is something we like to do to stop people (such as yourself) commiting fraud. We will also often ask for an original mortgage statement as part of any acceptance.