A property trader and his mum who used false mortgage applications to buy up extravagant homes in Orpington and Chislehurst have been ordered to pay back £2.8m in criminal profits.

Wayne Stubbs, 45, and his 62-year-old mother Wendy massively overstated their incomes to obtain loans to buy houses in London’s most expensive districts.

Stubbs and his mum masterminded a mortgage fraud plot including the purchase of a seven-bedroom home with swimming pool and cinema in Orpington Road, Chislehurst.

The pair, who lived in Chislehurst, applied for a £300,000 mortgage on a property in Crofton Lane, Orpington, in 2002 and £237,500 for a flat in Park Hill Road in Bromley.

They also completed mortgage applications to buy properties in Notting Hill and in the Kensington and Chelsea London borough.

Stubbs and his mother, who were convicted of obtaining money by deception at the Old Bailey last year, never declared any of the rental income obtained from the properties.

On Tuesday (May 26) at Woolwich Crown Court, a judge ordered Wayne Stubbs to repay £1.7 million and Wendy Stubbs £1.1 million.

At conviction, Wayne Stubbs was sentenced to six years in prison and Wendy sentenced to three years.

If they do not pay up within six months, they face another six years and five years in jail, respectively.

Garry Crone, of the National Crime Agency’s economic crime command, which brought the pair to justice, said: “Wayne Stubbs and his mother built up a huge property empire based on fraud and deception.

“This order means that in addition to serving substantial jail sentences for their crimes, they will not be able to enjoy the lavish lifestyle they had funded with their criminal assets.”

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