Mortgage Mole: King leaves his Midlands throne


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.