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News


Secure Trust Bank enters Right to Buy market
Posted on Friday November 16, 2018

The specialist bank has made loans available up to 100% of the discounted purchase price and will also lend up to £10,000 or one year’s discount – whichever is lower – beyond t...

Tandem opens community beta testing for autosavings
Posted on Friday November 16, 2018

Autosavings will aim to make it easy for users to set aside affordable amounts and earn interest. It will launch fully later this year, with options including rounding up money spent with the addit...

Modular specialist secures £25m Wembley student accommodation scheme contract
Posted on Friday November 16, 2018

The off-site construction specialist – working with Bowmer & Kirkland – will manufacture the 680 bedrooms at its 40-acre site in Newark, Nottinghamshire, and install them using its mod...

Over 222,000 new homes delivered across England
Posted on Friday November 16, 2018

The 222,190 new homes resulted from 195,290 new-build homes, 29,720 gains from change of use between non-domestic and residential, 4,550 from conversions between houses and flats, and 680 other gains ...

CrowdProperty passes £25m funding milestone
Posted on Thursday November 15, 2018

The P2P lender made the announcement after it fully funded its 56th project on its platform. CrowdProperty has now raised a total of £25,258,000 which has funded the development of 451 UK hom...

Close Brothers appoints new NED
Posted on Thursday November 15, 2018

Peter will join the board’s risk committee with effect from 1st January 2019. He will also become a director of the group’s banking subsidiary Close Brothers Limited. Peter is curren...

Starling announces partnership with the Post Office
Posted on Thursday November 15, 2018

The partnership will allow its current and business account customers to deposit and withdraw cash through any of the Post Office’s 11,500 branches nationwide. The Post Office has around 6,00...

Rugby club exchanges contracts with developer for £22m hotel project
Posted on Wednesday November 14, 2018

The exchange between the duo now means that work can commence on the £22m project in the summer of 2019, subject to planning approval. Marshall CDP has commercial expertise in building distri...

CivilisedBank resubmits banking licence application
Posted on Wednesday November 14, 2018

The digital SME bank received its banking licence in May 2017, but decided to release it in May 2018 to allow it more time to complete its build phase and ensure that it launched with an optimal custo...

Homes England appoints new board member
Posted on Wednesday November 14, 2018

Duncan is a housing practitioner with over 35 years of experience in property, housing, investment, regeneration and development with emphasis on public and private partnerships, involving government,...

Construction sector set to be ‘hard hit’ by post-Brexit immigration policy, warns Sadiq Khan
Posted on Tuesday November 13, 2018

Highlighting the huge economic, social and cultural benefit of immigration and freedom of movement from the EU to the capital, the mayor of London believes that many of the capital’s sectors ris...

James Brokenshire unveils housing court proposals
Posted on Tuesday November 13, 2018

If created, it would provide a single path of redress for both landlords and tenants, meaning that both would have the security of knowing they have somewhere to go to seek justice. The proposals w...

‘Several’ banks approach Revolut to buy its machine learning tech
Posted on Tuesday November 13, 2018

The fintech company has reported that the technology has already resulted in a fourfold reduction in card fraud. The state-of-the-art technology is able to develop deep insights and predictions aro...

48% of SMEs left waiting over two weeks for bank lending decisions
Posted on Tuesday November 13, 2018

The study found that more than a quarter of these firms (27%) were rejected outright when making a funding request. Over two-fifths of sole traders (43%) have had funding requests rejected, while 4...

Beauty salon sources business loan using Open Banking data
Posted on Tuesday November 13, 2018

The commercial finance brokerage used the data which saw the loan go from application to approval in one hour and 23 minutes. Funding Options is using Open Banking data to ‘fast track’ ...

59% of micro-traders not ready to move to cashless business model
Posted on Tuesday November 13, 2018

The Post Office’s future of cash survey has revealed that half of micro-traders believed that it was important for their business to have access to cash within the local community. Just under...

Gatehouse Bank expands direct finance team
Posted on Tuesday November 13, 2018

Courtney brings with her more than five years of experience within the home finance market, having previously worked as a whole-of-market broker and prior to that at Aldermore as a direct adviser and ...

Monobank co-founders to launch new credit card in the UK
Posted on Tuesday November 13, 2018

The card will target those who need to build a credit history, including young people applying for their first credit card and people who have just arrived in the country. The idea behind the card ...

Hampden & Co hires new banking director
Posted on Monday November 12, 2018

Allison – who specialises in providing lending solutions to private clients – joins the private bank from C Hoare & Co. Hampden & Co’s main focus is offering a personal ba...

SME housebuilder Backhouse secures £50m investment
Posted on Monday November 12, 2018

The investment from Cheyne Real Estate Credit (CRECH) Fund V – Opportunistic takes the form of a joint venture, providing the SME housebuilder with access to the funding required for the next ph...

Atom bank to add four directors to its board
Posted on Monday November 12, 2018

The specialist bank will add Cheryl Millington to the board who brings experience in technology, retail and banking to Atom, having most recently served as chief digital officer at Travis Perkins. ...

PCF Bank partners with Code Investing in bid to expand portfolio
Posted on Friday November 09, 2018

As an institutional partner to CODE Investing, the specialist bank will gain direct lending access to qualified SMEs that require hire purchase and leasing finance to assist them with acquiring a rang...

Urban Exposure expects to close £530m of loans by end of 2018
Posted on Friday November 09, 2018

The development finance firm made the announcement during its pre-close trading update covering 9th May – when it was listed on the AIM – to 31st October 2018. In this period, Urban Exp...

Outline planning consent granted for new garden village
Posted on Friday November 09, 2018

The duo have worked closely with Durham County Council to secure planning permission. Around 1,500 new homes are planned to be built on the site, with 1,000 to be delivered by Home Group, which pro...

Zopa closes £60m funding round
Posted on Friday November 09, 2018

The financial services company will use the funds to provide capital for the bank it hopes to launch soon. The funding round included a mix of new and existing investors and closes the round which ...

Our sector seems to be largely ignored by the powers that be
Posted on Friday November 09, 2018

It’s hard to pick anything out that will have a positive effect on the development finance sector. The Help to Buy scheme disappears in 2023 with restrictions being applied in 2021 in respect of...

When is a development cost a ‘true’ development cost?
Posted on Friday November 09, 2018

A lack of understanding or clarity over the ‘agreed budget’ at the outset leads to confusion, not only in terms of the borrower’s initial equity calculation, but also which costs are...

Homes England provides £20m loan to support Leeds development
Posted on Friday November 09, 2018

The joint venture partnership between Evans Property Group and Keyland Developments has already secured planning permission for 1,100 new homes, a primary and secondary school, public open space and a...

Should large corporates provide homes for their employees?
Posted on Friday November 09, 2018

At a recent industry event, it was highlighted that it shouldn’t solely be down to the development industry to solve the housing shortage, but that large corporate companies should be responsibl...

£51m build contract agreed for London retirement village
Posted on Thursday November 08, 2018

They have instructed McLaren to manage construction on the project at Nightingale Place in Clapham. The 13,750m2 development has a GDV of around £125m and is due to be completed by 2020. I...