The Financial Services Authority (FSA) has banned Southall based mortgage broker Asim Hussain for submitting false mortgage applications to lenders on behalf of himself and customers.

The FSA investigation was started when a lender spotted some discrepancies related to the mortgage applications submitted by Mr Hussain.

The investigation found that he had submitted 18 mortgage applications on behalf of clients containing employment and income information which did not correspond with the true facts.

He failed to carry out relevant checks to verifying customer details for at least six applicants.

He also applied for a mortgage for himself by heavily inflating his income through his company Lifestyle Mortgages (Ealing).

The FSA has also cancelled the permission of Asim Hussain, trading as Lifestyle Mortgages (Ealing).

This year the FSA has banned 17 other mortgage brokers for false mortgage applications.