Buy-to-let landlord jailed after mortgage fraud
A buy-to-let landlord has been jailed for 30 months by Bradford Crown Court and banned from being a company director for five years after a £1m-plus mortgage fraud.
Shazad Arshid, 37, already had rental properties in the Huddersfield area and submitted fraudulent mortgage applications over a four-year period to buy more.
Arshid defrauded lenders out of a total of £1,113,202 through submitting false employment and income details and using associates to obtain the funds.
Arshid, a director at S and S Properties, had earlier committed a housing benefit fraud. He apparently later repaid the money, while none of the mortgage lenders had lost out, because the properties actually existed and the payments had been made.
The judge told Arshid that in many other respects, he was an honest and helpful person.