The show is scheduled for broadcast on Wednesday 11 February 2004 at 19:30 hrs on BBC2.
The publicity information for the programme promises that The Money Programme reporter Michael Robinson will test claims from the major lenders that self-cert does not distort house prices.
It says: “Michael Robinson puts these claims to the test and finds that major players in the mortgage industry seem unwilling to face up to one of the biggest scandals the British housing market has ever seen.”
Robinson said: “We are not planning to do lots more secret filming, but we are looking at how big the self-cert issue is and also how big mis-selling could be within the ‘fast-track’ market. We have interviewed a number of brokers regarding the issue.”
He added: “The aim is to find out to what extent this is an open secret. We want to know who knew what and when.”
‘Fast-track’ mortgages involve lenders not seeking income confirmation from borrowers while still retaining the right to do so, unlike self-cert where lenders state they will not investigate a persons income.
The MCCB has confirmed it was approached by, and has spoken to, the BBC, but it refused to discuss the nature of the questions it was asked.
The CML has also said it would be providing an interview for Robinson.
A broker who declined to be named, but who was interviewed by the programme, said: “It focuses on lenders who claim not to sell self-cert but don’t check the income of borrowers. They are looking to challenge the CML’s official line that self-cert comprises only a small part of the market.”
