The UK's Financial Services Authority has banned mortgage broker, Ian James for applying for a personal loan supported by a falsified payslip and for making a false claim to the bank overstating his income. His wife, Nicola James, has also been banned.

Mr James was the sole director and approved person of Orchard House Mortgages. The Financial Services Authority (FSA) has also cancelled the permission of the firm. Ms James, who acted as the company secretary was also banned for jointly submitting the application for a personal loan.

The FSA found that Mr and Ms James obtained a bank loan of just over GBP9,000, including interest, by submitting two false payslips with fake salaries and employment histories.

Jonathan Phelan, head of retail enforcement at the FSA, said: As the approved person at Orchard House Mortgages, Mr James had overall responsibility for ensuring that Orchard House conducted its business with integrity. He showed a lack of honesty and integrity in relation to his own personal financial dealings.

Given our concerns about brokers’ use of false payslips on customers’ mortgage applications, we applied the same standards to him and we concluded that he could not be trusted to occupy any position in relation to customers’ mortgage applications.