Mortgage and Land Registry Fraud
Fraud allegations are the most difficult, complex and time-consuming cases to defend.
Fraud cases can often be won or lost at the investigation stage and before charge. What occurs in the early stages of an investigation can influence whether the matter leads to charge and in some cases, conviction.
Mortgage Fraud often involves not only a significant loss to the lender, but often significant losses to the Land Registry. One such method people are accused by the police of organising is as follows:
A method of defrauding lenders and the Land Registry involves convincing the Land Registry that the company lending money to a buyer has had their money repaid to them. This is done by providing HMRC with forged DS1 documents
On notice of the repaid debt, a person asks HMRC to provide them with a new title deed to the property showing there is no money owed against the property. Once the property has a title deed that shows no debt, it allows that person to either sell the house against the knowledge of the lender, or to borrow money against the property well above the value of that property. This is done serving HMRC with what are referred to as TR1 forms and AP1 forms
With no debt recorded against the property, this allows them to borrow unrecoverable amounts of money against the property all without the lender’s knowledge. An example of this can be explained this way: The house is worth £500,000. There is a mortgage charge recorded on the title deed of the property for £500,000. The forged DS1 form provided to the Land Registry has now removed that £500,000 charge. The title deed shows no debt against the property. Someone then goes to another lender and borrows money to the full value of the house. The house now officially has £1,000,000 of debt against a house that is worth only £500,000
The consequence being the property has been sold to another person with no reference that there is still a huge debt owed against that property, or that there is now a debt against the property that is double the value of that property.
Mortgage fraud against lenders and the Land Registry can involve an almost exhaustive array of methods. Potter Derby has considerable experience in defending such allegations and prosecutions. To discuss any of your concerns or worries if implicated in such matters, please contact our office and arrange for a free face to face consultation during which time we will seek an answer all of your questions.
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Specialist Fraud and Financial Crime Defence Solicitors
Potter Derby Solicitors are a criminal defence firm who are regularly instructed to defend people in police stations and Courts throughout England and Wales.
Evidence relating to financial crime is both comprehensive and sophisticated, only a small selection of criminal defence firms has the specialist expertise and ability to properly defend in these matters. Potter Derby is one of them.
We have secured our reputation as recognised experts at preparing criminal defence work to such a high standard over time, through working with the industry’s leading Kings Counsel and being consistently instructed in the largest and most complex cases seen in Courts throughout England & Wales.
From defending allegations of international boiler room frauds, multi million pound mortgage and VAT fraud, to inter-continental drug & firearms conspiracies to politically motivated offences. Our experience in defending the largest cases is second to none. The ethos from the start is to offer a bespoke service tailoring what we do to the specific natures of the case.
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