Mortgage Mole: King leaves his Midlands throne

 Mole-new

King’s counsel

Former Bank of England governor Sir Mervyn King has resigned from the Aston Villa board after the football club was relegated from the Premier League. King, a long-time Villan, joined the board only in February this year. He says he resigned in protest over the stalling of the club’s sale to a new owner. King clung on to the Bank’s top job while the UK economy languished in the doldrums for five years after the crash, so Mole thinks the ex-governor has probably learned to cut his losses early this time.

Stilted conversation

Mole read this week that a British architect might have nailed the answer to the UK’s housing crisis. Bill Dunster has drawn up plans for pod-like houses on stilts that can sit above car parks,
to save space. Each pod would cost £60,000 to install. The idea has some merits but, as Edmund Blackadder might say, it also has just one tiny flaw: the flats have only 74 square feet of floor space, which might become an issue if the occupants had any desire to, say, own a few belongings.