View more on these topics

Mortgage Mole: Street wise?

Intrepid Mole, Mortgage Mole-2017
digging up
the stories
the news

Street wise?

Many of you are aware that the FCA is moving its existing Canary Wharf headquarters out of central London, to Stratford in the east.

However, Mole hears that some of the regulator’s more sensitive souls are worried about “knife crime and gangs” in the vicinity of their new location, and said so in an internal consultation.

Some even requested a shuttle bus to ferry them the 200m from Stratford station to the FCA’s new base, while others didn’t want to be in the area after dark.

Those familiar with Stratford know the area is gritty in parts, but definitely not in the environs of the world-famous Queen Elizabeth Olympic Park, where the FCA will be located…

Scrambled eggs

The mortgage market is full of hidden talent. Mole was interested to hear recently that Accord national intermediary sales manager David Robinson was also a proficient juggler.

Apparently, one of David’s party tricks is to juggle several raw eggs, which he likes to practise in the kitchen at home. “It really winds up my wife,” he tells Mole.

Your subterranean correspondent sincerely hopes David doesn’t do this too often, in case his wife snaps and goes for the juggler. [No puns, I said! – Ed.]

Burrowing trouble

Mortgage companies decide to rebrand for all kinds of reason but Mole had never encountered one that was changing its name to avoid being confused with a furniture retailer — until recently.

Mole was chatting to a staffer from digital broker Burrow Mortgages, formerly called Dwell. The Burrow insider informed him that a large part of the reason for the firm’s rebranding initiative was that consumers kept mistaking the company for the bed retailer of the same name.

“We had people on the phone every day complaining about lumpy mattresses,” the staffer said.

Mole didn’t like to point out that the firm’s new identity might cause confusion of a different sort, with subterranean dwellers — such as Mole’s own neighbours — potentially mistaking it for a desirable new residence. 

Industry charity totaliser

Click on image to enlarge

Our industry is full of generous individuals and firms that support a host of good causes.

Check out the sums raised this month…



Bank of England tightens mortgage affordability rules

The Bank of England has tightened mortgage affordability rules to prevent loosening underwriting standards, which it warns will cause some lenders to raise interest cover ratios. The Bank formerly said that lenders should test affordability by checking how borrowers would react to a three per cent increase in base rate. But the new rule says […]

Hampshire Trust

Hampshire Trust Bank chief executive steps down

Hampshire Trust Bank has announced today that its chief executive officer Mark Sismey-Durrant is stepping down. Sismey-Durrant (pictured) has spent 40 years in banking, the last five with Hampshire, and wants to take a step back from full-time executive roles. He will leave the firm once his replacement has been found. Hampshire Trust Bank chairman […]

Ex West Bromwich head of risk joins the Vernon

Vernon Building Society has appointed Adam Evetts to the newly created role of chief risk officer. Evetts joins from West Bromwich Building Society where he held the role of head of financial and credit risk for almost five years. Prior to that he was head of credit risk at the Yorkshire Building Society and has […]


News and expert analysis straight to your inbox

Sign up