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MORTGAGE BROKER BAN.

Byline: By NICKY BURRIDGE and LAURA ARMSTRONG

A NORTHERN Ireland mortgage broker has been banned by finance bosses for submitting false information to lenders.

The Financial Services Authority said Belfast-based Gerard McStravick was "knowingly involved in submitting false mortgage applications to lenders".

In a statement yesterday the watchdog said:

"The FSA found that a number of mortgage applications he submitted contained false information as to applicants' incomes and employment details and were supported by false documents, including faked pay slips and P60 forms.

"Mr McStravick also provided false and misleading information to FSA investigators to prevent them from establishing the extent of his involvement in mortgage fraud.

"He attributed all fraudulent mortgage applications to a former employee but false applications were submitted before and after the employee worked for him."

McStravick, who traded as Fast Track Mortgage and Finance Consultants, is one of four brokers banned by the FSA.

He was yesterday unavailable for comment.

Jonathan Phelan, Head of Retail Enforcement at the FSA, said: "Mr McStravick's business was used to commit mortgage fraud and his actions posed a risk to lenders. Banning him is part of a wider effort to tackle mortgage fraud, which includes us working alongside other authorities such as the police, and acting on information received from lenders and whistleblowers."

The regulator also said yesterday it was banning three mortgage brokers from South London for submitting false loan applications.

Erinma Didi Jordan from Peckham, London, was banned for submitting applications with false identification documents.

A second broker, Byron Brown, of Millbank Consultancy entered false information on a customer's mortgage application, while Rafiu Adisa Akanbi, from Greenwich, was also banned for using false identity documents.
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Publication:The Mirror (London, England)
Geographic Code:4EUUK
Date:Jun 10, 2008
Words:278
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