Skip to main content

Low-rate mortgage phishing scam

The low-rate mortgage phishing scams look like legitimate emails from mortgage providers and banks; however, this is another trick from fraudsters to try and steal victims’ bank details.

What is the low-rate mortgage phishing scam?

There are a number of different phishing emails offering low-rate mortgages, and whilst all of them are convincing enough at a quick glance, some have put more effort in than others. A couple of these emails simply consist of text informing the recipient that they could be eligible for a low-rate mortgage, or a reverse mortgage (known more commonly as a lifetime mortgage in the UK).

One of the emails appears to come from a legitimate company, featuring a logo and what looks to be certifications and ratings for the lender itself. This is because it has copied a real mortgage provider from the US, Amerisave. However, all of these emails are fraudulent.

How do you know it’s a scam?

If you receive one of these emails, there are a couple of red flags that you should be on the lookout for. The first warning sign is an offer which is time limited. A time limit is the phishing scammer’s calling card; they want you to rush into a decision before you have the time to think it through and realise that the email is fraudulent. Language like, ‘lock in your low rates today’ and ‘offer valid for 24 hours only’ should ring some alarm bells.

The second warning sign within these emails is an offer which is too good to be true. One email offers a 2.39% mortgage which is fixed for 30 years. There is currently one new mortgage provider, Perenna, that is looking to offer a 30 year fixed term mortgage; however, this is not available at present. The interest rates for mortgages are currently hovering somewhere around 5% and 6%; the 2.39% mortgage being offered here is an impossibly low deal.

Clicking a link in one of these emails is likely to take you to a page where you’re asked for your bank account details, either to perform a credit check or to ‘lock in’ your low rates. Entering your details means payday for these phishers, who can then empty your bank account.. 

What should I do if I receive one of these emails?

If you receive one of these emails, it’s highly likely that it is a scam. Do not click any of the links in the email, and if you have done this accidentally, do not provide any personally identifiable information or your bank details. If you think an email that you’ve received is a phishing email, you can forward it to Action Fraud

If you are keen to check whether a mortgage offer you’ve received is legitimate, find the lender online and contact them directly using details you find on their website. In the case of the phishing email pertaining to be from Amerisave, a quick internet search reveals that they are not offering mortgages at 2.39%. Do not use any details that you find within the email itself; this is likely to put you in direct contact with the scammer.

If you’re struggling with your mortgage repayments, Money Saving Expert has a detailed list of your options


The Transcendit Way

Transcendit understand that when you choose to work with us, whether we're taking care of your IT, app or web development, you're trusting us with part of your business. So whether we're looking after your computers, phone systems or servers we always do things 'the Transcendit way'.

The whole of our team adhere to the same values, beliefs and policies - the principles that were written when Transcendit first formed in 2000. Whether you come to us for cloud services or recovery backup you can be confident that you'll always receive the same excellent service.

The Transcendit way outlines how we do business; following the same straightforward principles with every client and customer, regardless of how big or small they may be.

That means we get to know you and your business. We offer you a friendly, professional and efficient service, and we'll always be honest with you.
We understand that not everybody speaks fluent IT, so we try to explain things in a way that is simple and clear. We always spend as much time as is necessary explaining things to you.
If you need to talk to us about something, no matter how insignificant, we are only ever a phone call away – and we’re never too busy to make you a cup of tea and have a sit down with you in person.
We understand how frustrating it can be when things are late. When we schedule an appointment with you, we are there when you’re expecting us. If something prevents us from getting there, we always call you in advance to let you know.
Sometimes things can go wrong, but we never lie to you or try to cover something up. If things go askew we tell you what’s happened and how we plan to prevent it affecting your business.
We want you to continuously benefit from working with us. We regularly discuss your business and make suggestions for improving systems and processes wherever we can – but we never try to push you into a purchase.
When we quote a fixed price, that's always the amount we charge – you won’t find any nasty surprises on a bill from us. If you are paying by time and materials, we inform you if our approximations could change.
We understand the importance of privacy for your business and your customers. We respect the confidentiality of your data, and we will never pass on your information to third parties.
We appreciate it when you take the time to give us feedback. A system called CustomerSure records our client's responses, so you can trust that our reviews are from real people.
Find out what they're saying here.
We have been working with Transcendit since they started in business and they have never taken what they offer us for granted. Always first class professional service. Thanks to you all for the prompt attention and service. Bill Baty, Tech Set

Based on 12075 reviews our customers rate us 9.8/10. Reviews and ratings by Customersure. 09-October-2024

Transcendit are proud sponsors of CHUF, the Children's Heart Unit Fund.

Transcendit is a Living Wage employer
Transcendit is a Microsoft Gold certified partner
VMWARE partner
Vipre partner
IPCortex partner
WithSecure partner
DELL partner
Barracuda partner
Veeam partner
N-Able partner