Pritchard's piece: So why do we want rates to rise?

Pritchard's piece: So why do we want rates to rise?


I have spent the last week talking with people that know far more than me which narrows it down to just under 50 million, including those under the age of 10 (I am definitely not smarter than a 10 year old)! The fact is, nobody really understands why we are putting pressure on the MPC to put rates up given the fact that inflation is clearly out of control... I am also starting to wonder what benefit higher rates may actually procure given the fact we clearly can’t control the other inflationary issues, however, and as I said earlier, I am not the sharpest tool in the box so maybe one of our illustrious readers would take up that mantel and deliver a compelling reason. But before you start, make sure you are prepared to be shot at from all quarters!

I had a note today from a quasar lender who very kindly invited me to the forthcoming Commercial Expo, which I must admit I am looking forward to, as at least half of the people there have had a whip round and have actually got some money to lend…..although the invitation was about as shallow as a puddle on a dry morning! On that point, congratulations goes to Chris Dailey at Jumbo who has got his new fund and strikes me as a decent fellow. Chris, please send the 50 quid in a plain envelope. For the plug and yes Tudor Street is still on!!!!


It was yet another interesting week with the guys at SPF (formerly Savills) coming up with a real poser which I think we have managed to palm off on some unsuspecting firm. Also a big thank-you to Nic Rotten for taking the mantel of irritant of the week away from Martin Horwood who did make a good attempt for two weeks in a row but failed on the last day because Nic paid me more to get his name in the press. The fact is you are two peas in a pod!


I have had a number of anonymous calls this week about underwriting and in all seriousness it strikes me that a number of new entrants are actually lending on underwriting terms that are almost impossible to adhere to, which frankly is a little disappointing. Come on, the M25 does not signify the edge of the flat world.


Those of you that are at least trying, we applaud you, but a little more information at times would be helpful.


Finally, and once again, Lancashire (Blemain) who recently employed the charismatic Lorenzo as a BDM deserve a mention and so do West One who are trying hard to help according to one or two sources… Keep it up.


Have another good week………..and can someone get Alan Cleary to phone me back I only want to borrow the keys Al!     

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