Potential mortgage fraud

[RBush22]

Hi all

My partner took out a mortgage of 700k almost 2 years ago and it was approved. However, things are getting bitter between us and I know that to get the mortgage approved, he provided evidence of income that was not genuine.

Can I go to the bank now and ask them to look into it? I don't think I can progress with the relationship with this doubt in my mind that he committed fraud.

He owns a flat worth £1 million so it's secured against that plus evidence of income that was not genuine

So he didn't actually buy the flat recently? He already owned it outright then borrowed £700k against it?

This is odd.

When you buy a place and raise 700k as a mortgage the money goes to the solicitor who passes it to the seller. So it would be "gone" (to the seller) but it wouldnt be available to be gambled away.

But how did he not buy a house?

They wouldn't transfer 700k for a property to the buyers bank account

I can't get my head around this. The only time any mortgage-related money has touched my own bank account was when I sold a house, and the solicitor released the equity after repaying the outstanding mortgage. Has he done some sort of equity release on this £1m flat to get hold of the cash?

That makes it sound as though he's got himself involved in something akin to moneylaundering where he's presented his account details falsely as being of the seller or got somebody else to do it for him.

Is he gambling this stuff through 'legitimate' channels?

So if he goes bankrupt then he won't be paying any fees or anything much else to you.

You are fixating on the wrong thing IMHO. The fraud to obtain the mortgage is neither here nor there. He's got a gambling problem, he's not going to be able to pay to support your child. You need to focus less on him and more how you are going to survive here.

He wouldn't of been able to get 700k just like that, he'd need all kinds of things like a solicitor, suyveor.
They wouldn't just give him the money the whole point is the bank buys the house and you repay them. This doesn't make any sense?

Are you sure it wasn't a loan rather than a mortgage?

Or even a loan shark?

The solicitor wouldn't have had any involvement in income checks that's down to the mortgage company.

You need advice re the children but I can't see that the mortgage fraud has anything to do with you.

He owned a flat which he remortgaged. It was his flat, his money to do what he liked with and which he has basically burnt.

He can't be forced to do the decent thing and provide for his children as awful as that sounds.

Surely the relationship is over? As a pp said it might work in your favour when it comes to calculating his maintenance payments if he has inflated his salary.

I don't think the mortgage company will be bothered to be honest. They have his flat as security for the mortgage and if he's repaying it monthly then there's as yet no loss to them.

I also honestly don't get it, but you'd potentially be opening the most enormous can of worms by doing this. Just separate and leave the mortgage out of it, sounds very messy indeed.

When you get a mortgage you don't actually get the cash in your account, so how did he gamble it away?

It was a remortgage on his existing property

I’d keep your nose out of it. You’re not married and his flat is in his name, there’s nothing connecting you to any fraud even if he has committed it. If a lender hasn’t done their due diligence correctly and accepted counterfeit documents evidencing his income, that’s their lookout. Keep protecting your own finances and end the relationship, if you’re already supporting yourself and your children and don’t have any shared assets to sort out it’s going to be relatively easy for you - just be grateful for that and move on from him.

It was a remortgage on his existing property

Ah! I missed that bit.

I'm amazed at how many posts there are on MN asking if people are duty bound to pay the mortgage when their name is on the mortgage and the risk assessment at application stage included their income and expenditure.

If one person wants to "come off" the mortgage the remaining person needs to start again with an application to borrow the full amount in their name only, as they are effectively buying the partner out of the other half. A new risk assessment will be done by the lender on that basis.
Seems like common sense to me, but it's obviously not to some people.
You can't just decide you no longer want the loan you signed up to repay over 25-30 years!

Yes - but when it comes down to custody arrangements, if he has been dishonest in his finances it will impact negatively on his character and ability to maintain financial stability for his children. This is already happening now. If he has lied, then he needs to be found out IMO.

I agree with you - but my concern about the mortgage fraud is related to his character and ability to be a responsible father which impacts the children. I have mountains of reasons already to show he cannot provide but if he has lied in a mortgage application that could also be a crime.

Thank you - but with children, he will continue to exist. I just want to know all the worms behind his existence so that if it comes to it, the judge can assess his character in full with all evidence and decide how often he can see his children.

Did he buy somewhere new or remortgage an existing property? Trying to understand how he was given the money rather than it going to the sellers.

Also, what is your real reason for doing this? You happily went along with it at the time but only now things are bitter you want to report?

Access to children won’t be based in any way on this. Family courts don’t work that way. No judge will even consider looking at your “evidence” about his mortgage in their decisions over the children. They may, however, see you trying to influence their decisions in this way as an attempt on your part at parental alienation, which they’ll take a very dim view of. Go down this path and you’ll hurt yourself far more than him. Your children aren’t a weapon to be used because you’re bitter.

Ok I think this is written poorly and causing confusion

he owns a flat and remortgaged it is what you’re saying, and then used the money to gamble, instead of saying renovations or whatever he was going to use it for. This is allowable, as long as he pays it back.

secondly, as long as he’s been paying it back, then I think unless you have evidence of fraud it will be difficult as he will simply provide evidence again and say you’re bitter and it’s an acrimonious split.

personally if the relationship is over, leave and don’t look back

I just want to know all the worms behind his existence so that if it comes to it, the judge can assess his character in full with all evidence and decide how often he can see his children

Ah. So you just want to try and get a judge to say he can't see the dc and think this will assist?

It won't happen op.

He could get his flat repossessed, go Bankrupt, go to prison for a year...and when he comes out he'll still be awarded access to his dc.

Save your energy and concentrate on what's important.

That’s not how it works op. He can be all sorts of cunt and the courts will only take into account how he treats his children and their right to see him.

His financial dealings will have absolutely no impact when it comes to residence arrangements or contact with his children OP.

He can use the remortgage money on whatever he wants- not a crime or against remortgage rules to gamble it