View more on these topics

Mortgage Mole: Team players?

Mole-new

Intrepid Mole, digging up the stories behind the news

Team players?

Bridging to the rescue! This week Mole hears that a bridging loan is crucial to the survival of Morecambe Football Club, which is strapped for funds and needs a cash injection to keep going.

The club made a loss of nearly £830,000 in the past financial year and the club’s directors have been putting in money to keep it afloat.

Mole understands the beleaguered football club now needs two bridging loans, of £180,000 and £200,000. Surely this is a golden opportunity for a bridging lender to combine two of Mole’s favourite things: football and short-term finance.

Will the market help save the club from an undignified end, perhaps becoming Morecambe local legends into the bargain? Mole fervently hopes so. Let’s do it for The Shrimps.

Wood you believe it?

Mole has no need to convince any readers of the inherent worth and generally noble heritage of the UK mortgage industry. But he was interested to read this week that archaeologists in London had unearthed and transcribed the country’s earliest financial document – and their exciting find may be some sort of property loan.

Historians excavating the foundations of Bloomberg’s new headquarters in the City found a wooden ledger dating from 57 AD that referred to a debt of 105 Roman denarii, or £10,000 in modern sterling. Around half of the documents unearthed at the site referred to loans or debt.

Rumours that this early lending industry was heavily reliant on the wisdom of a certain mythical Raymondus Boulgerus are currently unsubstantiated.

Recommended

Mortgage Mole

Mortgage Mole: God loves a tri-er

Intrepid Mole, digging up the stories behind the news God loves a tri-er Not content with doing a normal triathlon, four bosses at My Home Move have decided to kick things up a notch. Head of regional conveyancing Martyn Allen, head of legal practice Rob Gurney, customer journey and marketing director Mark Montgomery and group […]

Mortgage Mole

Mortgage Mole: Ridden with doubt

Intrepid Mole, digging up the stories behind the news Ridden with doubt Mole loves a bit of sport to reduce his stress levels after a full day of mortgage gossip but his jogs around the molehill look pitiful against the current efforts of Mortgage Strategy’s Sam Barker. When Mole last checked, the deputy editor was […]

Mortgage Mole

Mortgage Mole: Y3S golf day – join the club

Intrepid Mole, digging up the stories behind the news Y3S golf day: join the club Mole hears that the popularity of the annual Y3S golf day has grown to the point where broker attendees are beginning to prefer it to excursions with their own families. This year’s event takes place on 7 July at the […]

Newsletter

News and expert analysis straight to your inbox

Sign up