News Information & Guides
Mortgage scams: how to spot them and check a broker is genuine
The most common mortgage scam in the UK targets the money moving around a house purchase: criminals hack or fake emails and send new bank details for your deposit. Others pose as brokers, promise "guaranteed" mortgages for an upfront fee, or cold call about your remortgage. You can beat almost all of them with two habits: check who you're dealing with on the FCA Register, and confirm bank details by phone on a number you already trust.
Scam names and reporting services change. This guide reflects official guidance available in September 2026.
Payment fraud in 2025
£1.28bn
Stolen from UK customers, according to UK Finance's Annual Fraud Report 2026.
Scams where you send the money
£576m
Authorised push payment (APP) fraud losses, up 19% on 2024.
Bank reimbursement cap
£85,000
The most a UK bank must refund per APP scam claim under rules in force since October 2024.
Where to report
Report Fraud
Replaced Action Fraud in December 2025. Call 0300 123 2040 or use reportfraud.police.uk.
Are mortgages a scam?
No. Mortgages from FCA-authorised lenders, arranged directly or through an authorised broker, are regulated products with legal protections. The scams sit around them: people pretending to be your solicitor, lender or broker so you hand over money or personal details.
Home buyers are attractive targets because large sums move on predictable dates, and details of a sale are often visible online. UK Finance found that 66% of APP fraud cases in 2025 started online and 17% by phone or text.
Mortgage and property scams to watch out for in 2026
Conveyancing payment diversion ("Friday afternoon fraud")
A criminal gets into the email account of a buyer, solicitor or estate agent, reads the thread, then sends a convincing message just before completion saying the firm's bank details have changed. The money goes to the criminal instead. It's nicknamed Friday afternoon fraud because many completions happen on Fridays, but it can strike any day.
How payment diversion fraud works
The fake email arrives just when you expect a payment request
The other common scams
| Scam | Warning signs | What to do |
|---|---|---|
| Payment diversion | Email or text saying bank details have changed, often urgent and close to completion | Call your solicitor on a number from their website or engagement letter before paying. Send a small test amount first |
| Clone broker or lender | Uses a real firm's name and FCA number but a different phone, email or website | Check the FCA Register and contact the firm only on the details listed there |
| Advance-fee "guaranteed mortgage" | Approval promised whatever your credit, then a fee to "release" or "secure" the loan, often by bank transfer, vouchers or crypto | Don't pay. No genuine lender guarantees a mortgage before its checks |
| Cold calls about your remortgage | Unexpected call about a "better rate" or your deal ending, asking for personal or bank details | Hang up. Call your lender on the number on your statement, or 159 to reach your bank |
| Bank or lender impersonation | Caller says your account is at risk and asks you to move money to a "safe account" | Your bank will never ask this. Hang up and call 159 |
| Pension release for a deposit | Offer to unlock your pension early, a "pension loan" or a free pension review | Check the FCA Warning List. Pension cold calling is illegal |
| Fake listings and holding deposits | A fee to "secure" a home you haven't viewed, with pressure because of "high demand" | Never pay before viewing and checking who owns or manages the property |
| Title fraud | Post stops arriving, or mail about a sale or loan you know nothing about | Sign up to HM Land Registry Property Alert and consider a restriction |
| AI voice cloning and deepfakes | A call or video from someone who sounds like a relative, adviser or solicitor asking for an urgent transfer | Hang up and call them back on a number you know. Agree a family safe word |
Taking pension money before the minimum pension age (55, rising to 57 in April 2028) through a so-called pension loan can trigger tax charges of up to 55% on the amount taken. We are not tax advisers and this is not tax advice. This is a general summary based on the rules published at the time of writing, and we make no warranty about the tax you will pay. Speak to a qualified tax adviser or accountant about your own circumstances.
Title fraud: who is most at risk?
Title fraud is when someone poses as the owner to sell or mortgage a property. HM Land Registry says the risk is higher if you rent out the property, live abroad, own it without a mortgage, leave it empty, or have had your identity stolen.
Its free Property Alert service emails you when someone applies to change the register, such as a sale or new mortgage, for up to 10 properties. It won't block the application, so you can also add a restriction. This is free if you don't live at the property and £40 if you do.
How to find out if a mortgage broker or lender is legit
Any firm that arranges or lends on regulated residential mortgages in the UK must be authorised by the Financial Conduct Authority. Clone firms copy genuine firms' details, so a correct FCA number alone doesn't prove who you're talking to.
Checklist: is this broker or lender genuine?
- Search the firm on the FCA Register, typing the address in yourself rather than using a link you've been sent
- Check it has permission for mortgage business, and that the name matches any trading name you were given
- Compare the phone number, email domain and website with those on the Register. If they differ, treat it as a clone
- Contact the firm using the Register's details and ask them to confirm they're dealing with you
- Search the FCA Warning List for the name, website and phone number
- Never pay an upfront fee for a "guaranteed" mortgage. Genuine broker fees are set out in writing before you agree to them
- Confirm any bank details by phone on a number you already trust, never one from the payment request
- If you're pressured to act today, stop. Genuine advisers give you time
If the Register's details look out of date, the FCA's consumer helpline is 0800 111 6768. You can also read our guide to fee-free and fee-charging brokers so you know what fees are normal.
What Quick Mortgages will never do
Take your deposit
We never handle purchase money
We will never ask you to send your deposit or completion money to us. That goes to your solicitor or conveyancer.
Charge you a broker fee
Our advice is fee-free
We're paid by the lender, so anyone asking for a "Quick Mortgages fee" or an upfront payment to secure a mortgage isn't us.
Guarantee a mortgage
Lenders make the decision
No broker can promise approval before the lender has checked your application, credit and the property.
Ask for your banking passwords
Or rush you into a decision
We'll never ask for your PIN, online banking login or one-time passcodes, or pressure you to move money.
To check us, search the FCA Register for Cherry Street Holdings Ltd, FCA number 841262, which trades as Quick Mortgages. Our phone number is 0800 779 7907 and our emails come from @quickmortgages.com. If something claiming to be us looks different, call us on that number before doing anything.
What to do if you've been scammed
- Call your bank nowUse the number on your card or dial 159. The sooner they act, the better the chance of stopping or recovering the payment.
- Report the crimeReport Fraud on 0300 123 2040 or reportfraud.police.uk in England, Wales and Northern Ireland. In Scotland, call Police Scotland on 101.
- Tell the FCAReport clone firms and unauthorised brokers on 0800 111 6768 so it can warn others.
- Warn everyone involvedTell your solicitor, estate agent, lender and broker, change your email password and turn on two-step verification.
Will my bank refund me?
If you were tricked into sending money by Faster Payments or CHAPS from a UK account on or after 7 October 2024, your bank must usually reimburse you up to £85,000 per claim. Claims should be made within 13 months of the last payment, and a bank can deduct an excess of up to £100.
A bank can refuse if it believes you were grossly negligent, for example by ignoring clear, specific warnings, or if you were involved in the fraud. If you disagree with its decision, you can complain to the Financial Ombudsman Service.
These rules were set by the Payment Systems Regulator and may change. Card payments, cash, cryptocurrency and international transfers are not covered by this scheme, though other protections may apply.
Frequently asked questions
How can I tell if a mortgage cold call is a scam?
Assume it is until you've checked. Hang up, look the firm up on the FCA Register and call back on the number listed there, or call your lender on the number on your statement.
Can a broker ask me to pay a fee?
Yes, some brokers charge fees, but they must tell you in writing before you commit. A fee to "guarantee" or "release" a mortgage is a warning sign. Quick Mortgages doesn't charge broker fees.
Is it safe to send my deposit by bank transfer?
Yes, if you confirm your solicitor's bank details by phone on a number you trust. Some firms suggest sending a small amount first and checking it arrived before sending the rest.
Can someone take out a mortgage on my house?
It's rare, but title fraud happens. Property Alert and a restriction on your title make it much harder, particularly for rented, empty or mortgage-free homes.
Does Report Fraud replace Action Fraud?
Yes. Report Fraud took over from Action Fraud in December 2025 as the reporting service for England, Wales and Northern Ireland, using the same 0300 123 2040 number.
Get mortgage advice you can check
Quick Mortgages is an FCA-authorised, whole-of-market broker based in Birmingham, helping buyers and homeowners across the UK. We work with more than 110 lenders, including specialist lenders, and charge no broker fees.
Buying? See how long each stage takes in our mortgage timeline, or read about gifted deposits and proof of funds. For wider money scams, read how to stay safe from financial scams. Coming to the end of a deal? Look at our remortgage advice.
Sources
- UK Finance, Annual Fraud Report 2026 (2025 data)
- Payment Systems Regulator, APP scams reimbursement policy statements PS24/7 and PS25/5
- FCA, Protect yourself from scams, Loan fee fraud and Pension scams guidance
- City of London Police, Report Fraud service launch, December 2025
- Report Fraud, rental fraud guidance
- GOV.UK, Protect your land and property from fraud (HM Land Registry)
- Solicitors Regulation Authority, Scams guidance for consumers
- Stop Scams UK, 159 service
Correct on 17 September 2026 and may change.
Disclaimer:
This article is for general guidance purposes only and does not constitute legal, financial, or professional advice. Mortgage products and their terms can vary, and it is important to seek advice from a qualified, regulated professional who can assess your individual circumstances. Please ensure you consider your unique needs before making any financial decisions.
While every effort is made to ensure that the information provided on this blog is accurate and up-to-date, we do not guarantee its completeness or accuracy. The mortgage market can change rapidly, and the information on this blog may become outdated. We recommend verifying any information before acting on it and seeking tailored advice.
THINK CAREFULLY BEFORE SECURING OTHER DEBTS AGAINST YOUR HOME. YOUR HOME OR PROPERTY MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON A MORTGAGE OR ANY OTHER DEBT SECURED ON IT.
Thinking about your own mortgage?
Advice is free, and there is no obligation. Tell us what you are trying to do and we will tell you what is possible.