Sentenced For BTL Mortgage Fraud - BMV Property Investment Deals

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Sentenced For BTL Mortgage Fraud

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Written by John Angeletta

Wednesday, 15 February 2012 10:02

Three people involved in a BTL scam, including a mortgage adviser chasing targets, have been convicted.

Brothers Billy Blue Ingham and Bobbie Jo Ingham obtained loans for £700,000 in order to buy properties in Salford, Greater Manchester.

Their fraudulent mortgage applications were wilfully submitted by Anna-Marie Fletcher at the Cheltenham & Gloucester in Farnworth, Bolton.

Manchester Crown Court was told Fletcher stood to gain thousands of pounds in bonuses by meeting targets.

Philip Curran, prosecuting, said that in 2008, Billy Blue Ingham, a 31-year-old roofer, lied about his income to obtain money to buy his partner’s house.

He was able to borrow more than the prperty was actually worth and one-month later he returned to Cheltenham & Gloucester to apply for a mortgage to buy the house next door, without disclosing the previous loan he had obtained from the society.

Shortly afterwards, his brother Bobbie Jo Ingham (32) a factory worker, began buying buy-to-let property and Fletcher deliberately ignored irregularities within his applications too.

He bought three properties before the brothers joined forces, applying for two more mortgages.

The brothers’ frauds were discovered by police in 2010.

In court, Billy Blue Ingham admitted three charges of false accounting and was sentenced to 18 months. Bobbie Jo Ingham admitted four counts of false accounting and two charges of conspiracy to obtain benefits and was jailed for 21-months.

Fletcher (33) admitted false accounting and was given a suspended sentence of 8-months.

Should any adviser encourage or allow other than accurate, truthful information to be declared on any mortgage application, we recommend you walk away and report them to the local police.

Call John on 0203 239 4359 to explore your genuine Below Market Value property options.

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