The guide, ‘Mortgage Fraud And How To Avoid It’, was initially developed by Openwork to help its advisers address an issue the National Fraud Authority estimates cost the UK economy £1bn in 2012. Following requests from the wider industry, including solicitors and providers, Openwork has now made the guide accessible to anyone as a free download via their website.
Packed with advice and examples of real-life attempted fraud, the guide highlights the early warning signs advisers should look out for when assessing mortgage applications and provides a check-list of questions they should ask themselves when seeking to verify documentation and the claims of clients and introducers.
Paul Shearman, Mortgage, Protection & General Insurance Proposition Director at Openwork, commented:
“The fact the guide has attracted so much attention from outside the business clearly illustrates the level of concern about mortgage fraud and the industry’s determination to tackle it. We are pleased to make the guide accessible to anyone who would like a copy and hope it helps advisers take the steps they need to address this growing problem.”
