Thomas was the director of Atom Associates and also conducted business as Divine Mortgages, a trading name for Atom.
This individual and Atom Associates are not linked to Horsham-based packager, All Types of Mortgages Limited.
The regulator says HMRC records of Thomas’ earnings were substantially less than the amounts that he declared to lenders.
Despite claiming his income was genuine, with some coming from overseas investments and schemes, Thomas failed to satisfy the FSA that the evidence of this additional income was reliable.
The regulator says when he applied for the various loans, Thomas did not provide lenders with any indication that his income came from anywhere other than his mortgage business and from within the UK.
Thomas submitted a fraudulent mortgage application for his wife and two joint mortgage applications where the incomes declared to lenders were shown to be misleading.
FSA director of enforcement and financial crime Margaret Cole says: “The FSA is determined to remove from the sector any approved persons found to be making fraudulent applications.
“Thomas’s representations to the FSA about his income sources were at best unreliable. In his loan applications, he decided to rely on irregular and unaccountable income from overseas. It was plain to see that he had misled the lenders about the sources and amount of his income.
“Consequently, he has lost his individual approval and has been banned from performing functions in authorised firms. These sanctions are consistent with our ongoing drive to crack down on financial crime and instill confidence in the mortgage market.”