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Broker hands criminal £134K loan
A fraudster, who had been out of jail for just one month, conned a mortgage broker and a lender into giving him a mortgage of over £130,000.
30-year-old Mandy Patrick Lowther presented the broker from Pure Mortgages with fake wage slips from a valeting company, which suggested that his income was around £27,000.
Neither the broker nor the lender suspected the slips to be fraudulent and Lowther obtained a mortgage on the £149,000 home which he shared with his partner in Rothwell, Leeds.
In court recently, Merhan Nassiri, prosecuting, told the court that Lowther and his partner had met the mortgage adviser in March 2007 at a Taylor Wimpy show home.
They requested a mortgage of £134,950 on their Leeds home, presenting two fake wage slips allegedly from January and February 2007.
The application was approved and funds were transferred to the couples’ account within three months.
It was not until March of last year that Lowther was arrested for the mortgage fraud. He had never defaulted on a payment and inquiries were only made after he was arrested on suspicion of money laundering.
In court it was revealed that at the time of the mortgage application, Lowther had been out of jail for just one month and had committed multiple crimes.
In 1999 he was handed a nine year sentence for cash-in-transit robbery and then in 2005 he was given a two year sentence for handling stolen goods.
Having served his terms in Wealstun Prison, Wetherby, he was transferred to Everthorpe Prison, East Yorkshire, in August 2006.
He was not released from Everthorpe Prison until February 2007 and records show he made no tax declarations for 2007/2008 tax year.
In court over the mortgage case, Lowther pleaded guilty to fraud and converting criminal property and was given a 10-month prison sentence, suspended for two years, and 180 hours unpaid work.
Judge Kerry Macgill said: “We are all aware, looking back over the period to 2007 before the property crash, that many of these establishments, mortgage companies, were the author of their own misfortune.
“Being prepared to take almost any piece of paper to substantiate details, safe in the knowledge that property prices would go up – how wrong they were!”
A confiscation hearing into Lowther’s finances will be heard in the upcoming months.
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