Ethics FAQs - Conveyancing

This sort of arrangement usually involves a misrepresentation of the purchase price.  There is most commonly a special condition or side agreement stipulating a significant rebate, discount or cash-back on the purchase price at settlement. Usually this amounts to an artificial inflation of the purchase price and the intention is that the rebate, discount or cash-back will not be disclosed to the financier. 

There is also the issue of what details need to be entered on Forms 1 and 24.

There is a full discussion of all relevant issues and the steps you need to take in this Proctor article.