§ Mr. Sean HughesTo ask the Secretary of State for the Home Department (1) what steps the Government are taking to combat the problem of mortgage fraud; and if he will make a statement;
(2) whether he will initiate discussions with the Building Societies Association and the Association of Mortgage Lenders on the problem of mortgage fraud with a view to mitigating the incidence of the problem.
§ Mr. Douglas HoggNeither association has approached us or suggested that there is a widespread problem, and I see no need for specific Government action at present. But I shall keep the matter under review.
§ Mr. Sean HughesTo ask the Secretary of State for the Home Department what information he has as to how many cases of mortgage fraud the serious fraud office currently have under active prosecution and as to the estimated money involved.
§ The Attorney-GeneralI have been asked to reply.
The serious fraud office is prosecuting before the courts three separate cases involving allegations of obtaining 466W mortgages by way of fraud. In two of the three cases the losses to lenders are estimated to be in excess of £6 million and £4-£5 million respectively. It is not yet possible to quantify accurately the sums of money involved in the third case.