12 August 2009

Mandy’s other world

Life is good if your name is Mandy.  His Lordship has managed to pay off a £750,000 mortgage on his £2.4 million town house after only a year after a “windfall” from the sale of shares:

The Land Registry states, however, that he acquired his home in 2006 with £750,000 mortgage and he appeared still to have it. To complicate matters further, Companies House records show that he did not sell his shares in Clemmow Hornby Inge until almost a year after he purchased the property.

Mandelson's spokesman confirms that he did take out a mortgage on the property, but paid it off within a year with the sale of his shares. The details held by the Land Registry would, he added, need to be updated, but it was not Mandelson's responsibility.

With lots of spare cash Mandy travels on easyJet with the finest luggage available:

Incidentally, one can’t imagine that there are many people who fly on easyJet – as Mandelson did to Corfu to stay with his chum Nat Rothschild – who check in as pristine a Louis Vuitton bag as he did.

Just how has Mandy managed to accumulate such wealth on fairly modest incomes?  It is doubtful we will find out the answers today when he comments on the latest rise in the unemployment figures.

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