Rob's Blog: 'The great bridging interest rip off'

Rob's Blog: 'The great bridging interest rip off'


If only I didn't have a day job and could do bridging PR as my day job; in the last 7 days I would be a rich man indeed. Sadly, any press work I do (including this) extends my working day by the appropriate number of hours. I only find the time because I know how important this is to The Jockey's Agent and his followers.

One really interesting article that hit 'the wires' last week was Alan Cleary's article about 'the great bridging interest rip off' debate. Whilst the overall tone of 'The Wolverhampton Massive' was overly confrontational I think there point was a good one. It is naturally better for the client to 'roll up' the interest on a bridging loan as they pay less but as long as a lender is clear and transparent there can be no problem. I did feel a bit for Alan Margolis and Rob Love at United Trust Bank when I read this as UTB have been doing this for months now and have won much acclaim for the quality of their customer service; maybe they need to be a little more PR centric to get their message across like Precise has.

Many of you follow me on Twitter (@robjupp) including my good friends at The FSA. On Wednesday I went to my first Mortgage Tweet Meet which was in Threadneedle Street, London. The event, the second of its type, was well attended by over 50 Mortgage Tweeters. The evening took a slightly surreal turn when 2 lap dancers were joined with a chap with fairy lights on his saxophone. It was reminiscent of mortgage Expo 2005 and wasn't what you would expect in the brave new world of social media.

On a final note can I thank you all for the many valentine’s presents that I'm bound to get and especially from Lucy at Vantage Finance. I will be spending Tuesday night in front of 20,000 other romantics when Brighton and Hove Albion play Millwall at The Amex.

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