Mortgage Mole: Industry mauling

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Industry mauling

Much of the mortgage market flocked to the Mortgage Strategy Awards last week, in London’s swanky Grosvenor House hotel.

The night was always guaranteed to be good fun, but a major contributor to this was host Martin Bayfield, former England rugby player and possesser of a razor-sharp wit. The rugby star took potshots at the mortgage technology industry, the footwear of Jeff Knight from Foundation Home Loans and even Mortgage Strategy itself, but all in good humour.

Pictured is Lloyds Banking Group’s Mike Jones, keen to find out if he was taller than the 6’10” man mountain that is Bayfield. There’s barely a fag paper’s difference, Mike.

Play on hallowed Old Trafford turf

Mole is sure many of his readers will have watched football games at Old Trafford, but how many of you have had the chance to play a game on the hallowed turf?

Step forward Virgin Money, who are giving 50 brokers places to play in June. The lucky 50 will also get Virgin Money-branded kit designed especially for the day and enjoy the hospitality suite afterwards. All brokers need to do to have a chance of playing in the tournament is tell Virgin Money why they believe they should get this opportunity.

Brokers can go to the Virgin intermediaries website or speak to their BDM. Chelsea supporters, your time will come.

Scorned brokers hit back

Hell hath no fury like a mortgage broker scorned, as English playwright William Congreve once very nearly said.

The truth of this maxim was proven once again last week when the Guardian’s Patrick Collinson published an ill-advised article that criticised the level of fees paid to mortgage brokers as being unfair.

Mole would encourage his readers to make a cup of tea, grab some biscuits, take a break and enjoy some quality time reading the comments underneath the Guardian story, which feature many intermediaries in full-on attack mode.

Some of the more printable responses include “twaddle”, “dross”, “one of the worst pieces of journalism I have ever read” and Mole’s personal favourite: “If I did my job as good as yours, my mortgage advice business would have closed down long ago”. Ouch.