Boring & the Vulgar society at large and a mortgage market in flux
in one room whom they compelled to in- flate property values. Ten they all went down the Red Lion and had a skin full of wife-beater. Idiot. On the subject of which, next up is our
Mavis Riley: On the tab
A very convenient word that one. Now let’s try to be balanced about this. Yes - some of the lending solutions we are seeing from a raſt of recent entrants are indeed inno- vative, legitimate and welcome especially as too many mainstream lenders are con- tinuing to behave like Corrie’s Mavis Riley from the Kabin would when being asked to put this week’s newspaper subs ‘on the tab’ pet. Equally, fellas like Alan Cleary and Rob Jupp thankfully have too much valuable experience and guile for them not to be at the vanguard of the movement and be espousing good codes of practice. But a memo
to trade journalists:
PLLEEEAAASSE STOP OVER-EGGING THINGS!!! Te sector still represents only a small
(albeit fast-growing) proportion of the whole and there are much more deserv- ing subject matters which need your copy (the woeful service standards of certain mainstream lenders, escalating valuation fees, the sometimes over-convenient de- panelisation of brokers etc to name but three). Furthermore, I would suggest to those constantly bigging the sector up... the louder you shout, the faster the FCA will be at your door and whilst most of
www.mortgageintroducer.com Ed Milliband: Ed-Ucation
the community’s practitioners operate ex- cellent businesses, it’s no secret that there are still some dark arts being practiced in some of them . Te only other news story more tire-
some this month has been the slowmo car-wreck speed account of how two ex- footballers in Paul Gascoigne and Kenny Sansom have hit skid row (again!!). Both were great talents, especially the Geordie boy, but can you both either just get healthy or get on with it plan A or B, whichever self-pitiful option that actually might be?
lor, Ed Miliband and Channel 4’s econom- ics editor Faisal Islam with whom we shall direct the greatest opprobrium. What an ill-informed
tosser...suggesting that bro- kers were the driving force behind the credit boom! Yeah... brokers designed all those 95% self-cert adverse products. Tey then got all the Norwegian Post Office Pension Funds to buy them aſter they had previously got all the investment bankers together over a fine bottle of Montrachet and were joined by all the surveyor heads
F
rom the boring to the vulgar so step forward this month’s winners: HSBC, PFA supremo Gordon Tay-
lily-livered leader of the opposition (who was one of the first to champion New La- bour’s mantra of Ed-Ucation, Ed-Ucation, Ed-Ucation) who is now trying to defend how we have now got to a point where one third of councils are being forced to pro- vide extra ‘bulge’ classes in our primary schools to accommodate the vast rise in demand due to wholly un-policed immi- gration. A Prime Minister and statesman in waiting... pull the other one . Maybe Gordon Taylor had a bet on this
happening? Yet another caviar socialist. Tis rags to riches merchant appears to be clinging on to his grotesquely inflated sal- ary package despite having sp**ked over £100k away on sports betting whilst his own members are receiving lengthy match bans for doing far less. And finally to the ubiqutous HSBC.
Who clearly and ill-advisedly thought that Bob Sinclair and his motley crew at AMI would be a push-over in contesting compensation in the matter of a direct debit collection facility. All that adverse publicity for 3,500 quid. HSBC probably won’t care as they’ve long cocked their noses up to the brokers. But the story neatly demonstrates two truths, notably that Sinclair should have been running AMI a lot earlier and secondly that ar- rogance and narcissism remain alive and well in the echelons of HSBC whom, you guessed it, “declined to comment’’ on the story. Any older readers may well remem- ber the old Midland Bank? Always getting held up in episodes of the Sweeney. But sadly, a bank no more . Anyhow. It’s looking promising isn’t it?
Roll on the autumn and possibly the year’s strongest quarter.
MORTGAGE INTRODUCER SEPTEMBER 2013 31
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