View more on these topics

Title deed

When it comes to names, not many are more to the point than Mortgages PLC. But why choose such a generic name? Trevor Pothecary, group chief executive, and one of the founding fathers of the business, explains.

“MPLC started trading in March 1998,” he says. “The property market was still recovering from the recession and sub-prime was the domain of a few specialist lenders.

“Like most new businesses we agonised over names. Company names are subjective things and beauty is often in the eye of the beholder. What matters most are the values attached to the brand. A name can be almost anything, as the modern trend for abstract words indicates.”

After much deliberation the directors chose the name for the simple reason that it said what the company did and everyone liked it. But the name was not new. It had been used previously in the intermediary mortgage market.

“Some brokers may remember the original Mortgages PLC,” says Pothecary. “It was owned by the Canadian Imperial Bank of Commerce and was based in Coventry. The company was eventually purchased by Abbey National which deregistered the name after the business was integrated with its own. It was up for grabs so we staked our claim.”

This name is unlikely to go out of fashion and, being so generic, has not had to be changed whenever the company transferred ownership.

Recommended

Buyers head for cheap houses in the north

SmartNewHomes.com have revealed that escalating house prices are pushing new home-buyers out of the south and into the north.The average price of a new home in London was recorded as £427,875 in October, having grown 14% since the previous year. This positive growth in house prices has been echoed by both the South-East and South-West.As […]

Mortgages PLC appoints marketing manager

Mortgages PLC has appointed Kirsteen Gibb to the newly created role of marketing communications manager.Gibb is responsible for managing all aspects the lender’s brand communications activity including advertising, marketing materials and events. Based in Glasgow, she reports to head of marketing, Julian Wells. Previously marketing communications consultant with Norwich Union International, Gibb has relocated from […]

IDDs and affordability is a worry, says FSA

The Financial Services Authority says it still has concerns about Initial Disclosure Documents, with one out of two containing five or more errors.Speaking at the Mortgage Business Expo, Clive Briault, managing director of retail markets at the FSA, says although the regulator has been encouraged by the fact that consumers find Key Facts Illustration and […]

GEMHL enhances British Mortgage Abroad range

GE Money Home Lending has enhanced its British Mortgages Abroad product range to include the option to buy a second holiday home. The product range also offers a 0.26% rate reduction in its reversionary rates following the expiry of any fixed rate, a rate reduction on its three-year fixed product to 6.79%, and introduces a […]

The Perils of Passive Investing

The era of loose monetary policy created an environment that rewarded passive investors in the US. However, with the US raising interest rates for the first time since 2006, Felix Wintle explains why he believes active investing will be more important than ever. In the video Felix discusses: The rising cost of capital and its […]

Newsletter

News and expert analysis straight to your inbox

Sign up