Mortgage Mole: Proc Steady Crew


Proc Steady Crew

Mole was amused to see some top punning from the industry this week. When his pals at Mortgage Strategy tweeted the headline ‘Proc-and-bull story’ from an article slamming lenders over proc fees, the response from the industry for alternative puns on the word ‘proc’ was overwhelming.

Suggestions from staff at London Money and Positive Lending included: Proc, Stock and Two Smoking Barrels; The Hand that Procs the Cradle’, ‘Charlie and the Procolate Factory’, ‘Procwork Orange’ and Mole’s personal favourite, ‘Hunt for Red Proctober’.


The term ‘Nimby’ was coined in the 1980s, taken from the acronym for ‘Not in my back yard’, a phrase commonly uttered by those objecting to something perceived as unpleasant being sited in their neighbourhood, while raising no objection to such developments elsewhere.

Perhaps less likely to catch on is an expression that Mole saw last week in Legal & General’s results: ‘Pimby’, or ‘Please in my back yard’.

The argument is that the UK needs more open-minded local planning decisions.

Mole agrees with the sentiment but wonders how long-lived the phrase will be.

Not me, guv

Mole has seen some pretty ridiculous scams in his time but none quite as hare-brained as texting someone while pretending to be Bank of England governor Mark Carney.

The scammer in question claimed to want to return $6.5m to the recipient of the message. When challenged, the fraudster posted a picture of his ‘ID card’, which, to Mole’s eyes, appeared to be a train ticket with Carney’s face plastered over it.

Quite why the Bank of England governor is dealing in dollars remains unclear. Still, full marks for originality.