![]() ![]() About half of borrowers with two or more investment properties admitted to being less than truthful about their earnings and debts. ![]() The survey of over 900 people found that borrowers who bought more than one property in a single financial year were the most likely to lie. Global investment bank, UBS, published research last year saying that more than a third of home loan applications weren’t entirely honest. ![]() It’s also likely to be found out during the application process and could lead to more serious consequences. But exaggerating your income and assets on a loan application isn’t just a recipe for future financial disaster. With house prices now recovering and moving back up, the pressure on buyers to scrounge up a few extra dollars is increasing. It’s tempting to fudge the numbers on a loan application in order to ensure you squeeze a few more dollars from a lender. ![]()
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