Man who was 'panicking' about house prices used fake documents to get €340k mortgage

Kevin Davy (46) created fake supporting documents because he knew a bank would not give him a mortgage due to his freelance employment status, a court heard.

Judge Bryan Smyth said Davy could avoid a nine-month prison sentence if he is found suitable to carry out 200 hours of community service.

He adjourned the case at Dublin District Court.

Davy, of St Aongus Place, Tallaght pleaded guilty to making and using false documents – a P60, salary slips and bank and credit union statements.

Detective Garda Michael McGrath said Davy went to Permanent TSB bank in Tallaght Village on November 1, 2019 and applied for a €340,000 mortgage.

He produced documents including bank statements and pay slips in his name.

The application went to central office, which had “misgivings” and contacted gardaí.

The accused made full admissions, telling gardaí he had been renting for 20 years and wanted to own his own property.

He was self-employed and knew the bank would not give him a mortgage because of his employment status.

He “came up with the idea” to create the documents and Garda McGrath was believed if the accused had got the mortgage, he would have made the repayments.

There was no loss to the bank, defence solicitor Niall Walsh said.

Davy abandoned the application 10 days later when the bank requested additional documentation. He had no previous convictions.

Davy worked in the “journalistic field” with an established employment history and clean bill of health with revenue, but had been watching property prices rising, Mr Walsh said.

He got into a “state of panic” and worried he was going to miss his opportunity to get on the property ladder.

He “made a very, very poor decision” to generate the documents and misrepresent his employment status.

Davy would have been able to repay the mortgage if he had drawn it down .

It was “more an exploratory application than anything else” but it was “incredibly stupid,” Mr Walsh said.