Big rise in mortgage fraud

The scale of the mortgage fraud committed during the housing boom has been shown in a report out by KPMG. In 2008, courts dealt with fraud cases worth £36 million, compared with £3.7 million in 2007. Easy credit, and the growth of self-certification mortgages contributed to the high level of fraud, the report argues. However it also warns that most fraud committed since the credit crisis began has yet to reach the courts, and the scale of the problem is likely to increase.