Mortgage fraud has been on a steady rise in recent times and the Financial Services Authority (FSA) is currently looking into 200 scams that were all related to the mortgage industry.

The FSA believe that the fraud goes far beyond people exaggerating about their salaries in order to get the house they want, they believe that there are organised rings within the mortgage industry that are gaining huge profits from defrauding the mortgage and property industry.

The FSA are estimating that the current losses on each new build house connected to the mortgage fraud surge stands at