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Mortgage Mole: November 2018

Intrepid Mole, digging up the stories behind the news.

Branching out

‘Making the world a better place’ – every company claims to be doing it, few could say they even break even. New broker The Mortgage Branch will soon point to some quantitative evidence, if all goes well, though: the firm states that, through a partnership struck with Gloucestershire Wildlife Trust, it will plant a tree for every mortgage it completes on! Mole hopes none of the roots disturb his new lodgings.

Young ones, darling we’re the young ones

Mole managed to burrow his way into the recent Mortgage Strategy Leaders Forum, where among innumerable amounts of industry insight and free gifts (including a rather natty multi-format charging cable, including an old-style Apple socket), Mole was treated to a tear-jerking ode to the past via a Powerpoint presentation that brought home how far some of the stalwarts of this industry have come. Plus, another chance for a look at the now-infamous ‘Portrait with a Dog’.

Baby haul

Workers at the Nantwich branch of Yorkshire Building Society had a busy month. The above picture contains 105 nappies, 48 hats, 22 blankets and 21 cardigans (those last three categories all knitted), plus enough toiletries to keep all the bathrooms in the Burj Khalifa stocked until next Christmas. This loot was collected for the benefit of children at Liverpool’s Alder Hey Children’s Hospital.

On me head, son!

“Football, football, football. I get nothing but football, morning, noon and night,” complained an old woman in a famous 90s Nike advert. Mole is starting to sympathise. A month ago, Mole lunched (well, watched somebody else eat lunch – restaurants in London’s trendy Soho area don’t yet feature earthworms on the menu, although give it time…) with someone in the mortgage industry who turned out to have featured in Queens Park Rangers’ youth team, and now Mole hears that Mansfield Building Society has snapped up a former pro. Ex-striker Robbie Fowler, with his property empire, was a playground inspiration in more ways than one.



Government clampdown on properties bought with “dirty money”

The government has teamed up with property industry experts to target estate agents who fail to report suspicions of dirty money used to buy properties. The government will work with professional bodies including the Central Association of Agricultural Valuers, the National Association of Estate Agents, and the Royal Institution of Chartered Surveyors, to help estate […]


Year delay for new equity release rules implementation

The application of the Prudential Regulation Authority’s new rules that will cover the equity release sector has been pushed back a year to 31 December 2019. Previously pencilled in for implementation on 31 December 2018, the PRA has decided to adjust the date following industry feedback on its consultation paper ‘Solvency II Equity Release Mortgages’ […]


Ami raises objections to FCA compensation limit proposal

Ami has released a statement saying that it “strongly” opposes the FCA’s suggestion to increase the compensation limit of the Financial Ombudsman Scheme from £150,000 to £350,000. The trade association says that, in proposing this significant increase, “the FCA has lost sight of both its own and FOS’s purpose.” It claims that the scheme was […]


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