click here to go back to the home page search the property databaseadd your property to the Web sitefrequently asked questionsfor contact details of The Little House Company
The Little House Company
home houses and property staging

 

 

 

 

 

 

 

 

 

 

Housing Market News

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

  

 

RBS in Overseas Mortgages Investigation

Mortgage staff at Royal Bank of Scotland investigated re mortgage kick backs

RBS Royal Bank of Scotland

LONDON November 2nd 2009-Staff at the RBS overseas mortgage department are under scrutiny after it is alleged that individuals had been receiving bonus kickbacks from real estate agents worth tens of thousands of pounds in return for referring customers. The alleged bad practices are suspected to have continued to take place since the taxpayer-funded bail-out of the bank last year.

Financial experts believe that the deal is likely to include mortgages for Spanish properties sold by RBS. Therefore, the taxpayer is likely to become responsible for the questionable loans arranged by the department at the centre of the fraud investigation.

The two executives involved in the bank’s inquiry are Alan Dawson and Simon Clark.

Mr Dawson was responsible for Spanish mortgage lending to RBS customers in north-west England and Mr Clark dealt with customers in the Midlands.

The bankers would arrange mortgages for those interested in buying homes on the Continent. The two executives would also allegedly offer to put customers in touch with a “trusted” overseas property agents who would help them find a villa, apartment or any other type of property.

The money was allegedly to be paid to the bankers’ wives or other friends with “property” businesses. In some cases, cash is alleged to have been paid directly.

The money allegedly being sought by the two bankers potentially runs into tens of thousands of Euros as commissions from property sales abroad are much higher than in Britain.

The allegations are embarrassing for RBS, which was saved from collapse last October by an emergency injection of £20 billion from the Treasury. The taxpayer now owns 70 per cent of RBS. The Treasury has been in detailed negotiations with the bank for the past six months about extending taxpayer support by underwriting RBS’s toxic assets.

 

© Housing Market News by The Little House Company

Find houses for sale in London

Our Top House Sale Searches

Houses for sale Bristol

House for sale Birmingham

Houses for sale Liverpool

Houses for sale Southampton

Houses for sale Sheffield

Houses for sale Newcastle

Find Property For Sale

The Little House Company has thousands of homes for sale from all over the UK direct from the owners see them here: property for sale UK

 

Find your ideal property today
Enter Location to search

 

 

Property For Sale by City
Aberdeen - Belfast - Birmingham - Bristol - Cambridge - Cardiff - Coventry - Derby - Dundee - Edinburgh - Glasgow - Kingston-upon-Hull - Leeds - Leicester - Liverpool - LONDON - Manchester - Middlebrow - Newcastle - Norwich - Nottingham - Oxford - Peterborough - Plymouth - Portsmouth - Reading - Sheffield - Southampton - Stoke-on-Trent - Sunderland - Swansea - York

Find more houses for sale

 

 

Sell your home online for just £89 - CLICK HERE

 

 

 

 

Receive our news by email



The Little House Company - selling homes privately - SELL your home here too !!

©2000-2009 Little House Publishing Limited

buyers section
sellers section
frequently asked questions
contact details
buyers advice
customer feedback
home page