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Mortgage Mole: Weeding out the errors

Weeding out the errors

Did you think mortgage lenders didn’t have a view on marijuana smoking? Well, apparently you thought wrong.

Mole was perusing a recent Council of Mortgage Lenders report on later-life borrowing when his eye fell on this unforgettable quote: “Most big lenders won’t take drawdown income into account. They’re concerned about volatility of income as well as [having] concerns about how people use pot.”

Mole assumes the trade body, now part of UK Finance, intended to refer to the way people use their ‘pension pots’.

But he was greatly amused by the typo and is sure the report will generate interest from far wider circles than the trade body is accustomed to.

Moor power to his elbow

Mole congratulates Leeds Building Society’s Simon Halladay, who recently completed an epic 40-mile walk across the North York Moors in a fund-raising effort.

As if the distance wasn’t enough, Mole reminds his more southerly readers that this part of the world is far from flat. Simon (above) set off at 4am and completed the walk in 12 hours 45 minutes, in the process raising £1,600 for the Lymphoma Association. He has very personal reasons for supporting this charity, having been diagnosed with non-Hodgkin’s lymphoma.

Mole salutes his efforts.

Pedal to the metal

Mole wanted to update readers on the progress of staff from Vida Homeloans and Mortgage Strategy who, as your correspondent reported last week, have been doing some serious training to prepare for a 100-mile charity bike ride this summer.

A recent training ride started inauspiciously when Vida Homeloans’ Ian Giles got a puncture en route to the start point. However, having made the necessary repairs, he was back on the road with record-breaking speed. Giles, Josh Dines, David Tweedy and Dave Whitford then joined Mortgage Strategy’s Sam Barker for a few laps of London’s Richmond Park.

The group (L to R: Dines, Barker, Whitford, Giles, Tweedy) will be joined by other Vida staffers – Plamen Mitkov, Louisa Sedgwick and Tommy Wight – to cycle in the Prudential RideLondon event at the end of this month, with money raised from their efforts going to housing charity Shelter.

Donations can be made here:



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