The Mortgage Mole

No paupers or gawpers Property website Zoopla.co.uk gave a new definition to high net worth last week when it advertised a lavish apartment at One Hyde Park on its site – with a price tag of £65m. In fact, the price was so high it surpassed the maximum search value on the site, which is £15m.

The Candy & Candy-owned development is one of only a handful of properties in the billionaire-friendly block to reach the open market.

Zoopla describes the flat as ’exceptional’ with five bedrooms, six bathrooms and three reception areas.

But if anyone is thinking of putting on their best designer outfit and checking out the apartment, they will be sorely disappointed. Mole hears the estate agent advertising the property, Aylesford & Co, has put in a system to prevent those with empty wallets and prying eyes from looking around the apartment.

Mole wonders if this consists of turning punters upside down to see how much money falls out of their pockets.

That’s not what they mean by credit scoring After Manchester City’s thrilling victory in the Barclays Premier League this season, Mole knows there is no such thing as a sure thing in football. But in the mortgage market, assessing what will happen in the future is key to lending, meaning the two don’t usually mix well.

This brings to mind a story Mole heard about a famous footballer who, when he applied for a mortgage, asked to include his goal bonus for the next season in the affordability check.

Not willing to base a mortgage on the uncertain fortunes of this particular player, the bank refused to take the bonus into account. But Mole thinks the incentive to keep a roof over his head might have acted as a big incentive to score.