Mortgage Mole: Car sick


Intrepid Mole, digging up the stories behind the news

Car sick

Comparisons that highlight the severity of the UK housing shortage are rarely new to Mole readers, well versed as they are in the ebb and flow of such things. But never has Mole heard house prices benchmarked against the cost of buying a car.

Research conducted by estate agent reveals that a flat in Preston can currently be bought for the same price as a new Ford Fiesta but that the cheapest property in Cambridge now costs the same as a Ferrari California.

Dog’s life

Sadly, the state of the UK rental market also needs no explanation from Mole.

Greedy landlords abound and last week Mole saw one of the most extreme examples. You may have guessed the location: London.

According to the Evening Standard, an enterprising landlord is renting out a single mattress on the floor at the foot of a double bed for the princely sum of £430 a month.

And there was Mole thinking that the only animals supposed to sleep at the foot of the bed were dogs.

Bowled over

Talking of dogs, Mole went down to the London Stock Exchange last week to see the official flotation of Metro Bank for £1.6bn.

Metro top brass including chief executive Craig Donaldson and chairman Vernon Hill went to the exchange to mark the occasion.

But the Metro bigwigs were also joined by another Metro icon – Hill’s dog and bank mascot, Sir Duffield (see below).

Mole understands that the dapper hound received a dog bowl specially engraved with the LSE logo to mark the occasion.