The lies included inflating their income and fibbing about how much debt they had. 9News
have likely lied on their loan application by embellishing their income and omitting debts, new research has found.
Home loan expert Richard Whitten said lying during the home buying process is a "recipe for disaster"."Not only could it potentially qualify as fraud, it could also lead to the loss of your home in a worst case scenario." "While the lies might go unnoticed – the financial burden of an unaffordable loan could create a lot of stress," Whitten said.
As interest rates soar and inflation remains sky-high Whitten said it is no surprise Aussies are lying on their application to secure a property.at 3.10 per cent and the next hike in February is expected to deliver another blow to homebuyers."While small inaccuracies may not be the end of the world, if a lender finds a big discrepancy in the figures you've given them or you've outright lied about your financial position, the consequences could be severe.
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