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The Mortgage Mole


Anyone who thinks Mole is tougher than those nice, well-dressed PR people who invite us to so many champagne-fuelled events should take a look at the Olympian feats of the Lansons Communications team. A group including Rowena Merrick and Georgie Gannon, who represent Mortgage Express among others, are training hard for the Great North Run in aid of Leukaemia Research Fund. It is the largest ever half marathon and 47,000 people will take part on October 6 in Newcastle. Mole wouldn&#39t walk 13 miles even for a pint, so hats off to the girls.

Keep up

Bad news for lender marketing departments across the board this week. While some lenders spend millions a year on marketing budgets, the message may not be getting through. Speaking to a West Country broker earlier this week, Mole was somewhat surprised to hear of his preference for dealing with building societies “you know, like the Portman, Britannia or Birmingham Midshires”. Birmingham Midshires still a mutual? Somewhere a village is missing its idiot.


The CML is sorry to announce there will be no sandwiches available at the next Mortgage Intermediary Advisory Group meeting, to be held on August 19, because the building is being refurbished. Mole wonders if the experts will be able to cope with a morning&#39s discussion of “initial reaction to the FSA&#39s consultation paper” armed only with a Hobnob and a cup of coffee. Incidentally, the CML&#39s beautiful Savile Row building is the ex-headquarters of the Beatles&#39 Apple record label. So if you begin to wilt at the meeting, take comfort in the fact that you are at least being bored in a piece of pop history.

Footy fancy

The glamorous world of pop and premier league football seems a world away from New Barnet. But the back streets of Hertfordshire is exactly where Mortgage Express product manager David Connolly is recovering from a past life as mortgage counsellor to the stars. A French footballer with famously long hair and a member of Duran Duran are among the celebs happily shacked up thanks to Connolly&#39s advice when he worked with the wealthy. Mole can only hope they didn&#39t treat Connolly too well in return – after all, the costs of a &#39quiet drink&#39 in celebrity land are just as likely to make a bank manager reach for the repossession forms.

No more horn

The mortgage industry was in shock last week after news broke that &#39gentlemen&#39s club&#39 Spearmint Rhino could be forced to shut down its Camden branch amid allegations of prostitution. Mole knows true sorrow when he hears it as one senior Saint in the industry contacted Mole to express his disappointment. “This announcement is a crushing disappointment for the mortgage market,” he told me. “They are trying to stop us from keeping our ends up when the tough times come.”

This week&#39s photo: Bob Hope eat your heart out. Here&#39s Guy Batchelor, Patrick Ponsford and Richard Hurst with Wentworth golf club&#39s leading George Formby impersonator Alan Randall


Buy-to-let stays outside regulation

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BoS card supports real ale

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Lenders wary of regulatory cost

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Not so hi-finance

From Sohan JheetaI recently bought a hi-fi. To my surprise the proprietor offered me an interest-free loan voluntarily. I informed him that I would rather pay cash and that he ought to let me have some discount since I would not be using the credit facility. He refused. Anyway, after weighing up the pros and […]


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