The Mortgage Mole

The stress inducing mortgage
Bank of Ireland has been significantly angering many of its existing borrowers in the wake of its decision to contact 13,500 and tell them that it is increasing the differential on their tracker mortgages.

Many in the mortgage intermediary market have been caught out by the change and Mole has been inundated with angry messages from people who are having to deal with this sudden rate rise.

As many have people have pointed out (check out this week’s Star Letter on page 20), Bank of Ireland still trades in the UK via the Post Office.

So Mole was intrigued by the recent advert to appear from the Post Office on the tube in London last week advertising “the stress-relieving mortgage”.

Which is pretty ironic as many existing Bank of Ireland customers would describe their existing mortgage with the bank as stress inducing.

Sponsorship for L&G’s Thompson
Things are hotting up for Legal & General Mortgage Club managing director Ben Thompson with the clock ticking for his cycling trek from London to Africa in June.

Remember if you want to sponsor Thompson and his team of 10, check out their Justgiving page at www.justgiving.com.tourde4.