Question 1

Will I go to prison for mortgage fraud?

Accepted Answer

There is no set answer to this question. If losses to another party get into the hundreds of thousands, prison becomes more likely but is not necessarily inevitable. Even if you are found guilty or plead guilty, whether you get a prison sentence could also depend on the role you had, the circumstances of the offence, whether you have any previous convictions, and even your age.

Question 2

Will I lose my house if I am convicted of mortgage fraud?

Accepted Answer

If someone is convicted of an offence of fraud, confiscation proceedings will usually follow under the Proceeds of Crime Act 2002. This does not necessarily mean that all of your assets will be forfeited. There is a process which a court has to go through, and if you can prove that assets were legitimately obtained, some may be protected.

Question 3

Can I be guilty of mortgage fraud if I didn't have anything to do with the loan application?

Accepted Answer

Whether or not you filled in or signed forms yourself may or may not be evidence of your guilt, but what is much more important is what you actually knew. If you were aware, for example, that false information was being provided on your behalf, whether you filled in or signed the forms yourself is not so important. Unless you knew or suspected that false information was being provided, you cannot be guilty of fraud.

Question 4

If I am convicted of mortgage fraud will my spouse lose his or her home?

Accepted Answer

If your spouse was not aware of any fraud on a lender, he or she may be able to claim a third party interest in any proceeds of crime proceedings so that part of the assets are ring-fenced and protected from confiscation. He or she will need separate lawyers.

Mortgage Fraud Solicitors Can Help if your Liberty and Home are at Risk

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