"Precautions over buy to let fraud upped"
Buy to let lenders are making deals tougher for property investors who try and purchase off-plan or at below market value.
In the latest move to fight mortgage fraud, banks and building societies want builders to tell them about any price incentives that affect the value of the property.
Builders and developers must supply the information to the lender’s solicitor before conveyancing is completed and the buyer takes over ownership.
The new form is effective from October 1, 2011, and replaces an earlier version requiring less detail. Continue reading New Move to Combat Buy to Let Fraudsters
Buy to let mortgage lenders are barring legal advisors who have not signed up to the new Conveyancing Quality Scheme (CQS) from acting for them.