Hi Mel,(posted 7481 days ago)I don't think they will be able to wriggle out with it quite so easily as it was televised the other night with hidden cameras.
However both the bank representative and the person who agreed to do this are comitting fraud and can both be equally charged as such.
Therefore I don't think it will appear as the same endowment, MIG mis- selling scandals as the person lying about their income is aware that they are doing so but could be tempted by getting a larger mortgage.
The word is that interest rates look as if they may shortly be rising. This does appear to be the case as many banks are now putting their 'fixed rate' mortgages slightly higher than they were a few months ago. I see worrying times ahead for many people who borrowed to their maximum and maybe didn't fix at that time. It's an awful problem.