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Boring & the Vulgar raws some tongue in cheek parallels with society at large...

lenders on Protection Payment Insur- ance. But many of these claims-chasing enterprises are nothing more than vul- tures gorging on a carcass which is bla- tantly under-regulated. How complex does the actual solution have to be? If as a fi rm you bring a vexatious or frivolous claim, then YOU pay, Mr P Arasite & Son.

Photo © Phil Whitehouse Vacuous: Ray Wilkins

irst off, certain johnny-come- latelys to both the buy-to-let and the bridging sectors. YOU’RE BORING. Little innovation and very “me-too”. Secondly, certain mainstream lenders’ continued near-labelling of interest-only borrowers as some kind of mortgage leper. Yes, at 90% LTV, we get it. But quite why so many lenders are discriminating against interest-only borrowers at sub-80% is insulting, es- pecially where the borrower had either successfully met repayments when rates were higher or their 20% worth of eq- uity gives them plenty of “skin in the game”. MMR regulatory creep no doubt. Further life tedium was provided by the snore-fest that was Thierry Henry’s homecoming, the Higgs Boson cover- age (don’t tell me you missed it?), Ali- sha Dixon, Kerry Katona, Paul Scholes

F Photo © Giuseppe Nicoloro Disappointing: £8m "admin costs"

and Simon Cowell all being “back” and of course the totally vacuous footie commentary of Alan Shearer and Ray Wilkins. I’m nodding off just writing their names... BORRR-ING...ZZZzzzzzz

enders have been craftily raising their arrangement fees almost by stealth. This would be more tolerable if criteria improved propor- tionately but it hasn’t. Some lenders are getting into the territory of certain bud- get airlines where passengers will soon be being charged for breathing cabin air which they haven’t previously paid for. A second vulgarity has been the pace at which reform of the Financial Om- budsman Service complaints charges have been moving and the claims en- vironment at large. Sure, some punters did get tucked up by certain high street


The good, the bad the boring & the vulgar

“Some lenders are getting into the territory of certain budget airlines where passengers will soon be being charged for breathing cabin air”

The Outlaw has also been disap- pointed by the following: the richest ex-prime minister in Labour history re- fusing to say why he is paying no tax on mysterious “admin costs’’ of £8m (clear- ly doesn’t have a high tech modern CRM system!) and the petulance and sheer crassness of Mario Balotelli and Joey Barton. Why isn’t Jodie Marsh’s 15 minutes up? And how joyous was it seeing Jose Mourinho being given yet another humbling by Pep Guar- diola. But none of these can surpass my heightened disdain over the clamour for David Beckham to be captain of the GB Olympic footie team. As ever, hype trumps talent.

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@mortgageoutlaw MORTGAGE INTRODUCER FEBRUARY 2012 25

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