Lenders hand out most mortgages to first-time buyers in nearly 20 years June 3, 2021 Banks and building societies handed out more mortgages to first-time buyers in March than any time since 2002. Across the UK, 42,330 mortgages were issued to first-time buyers in March, marking the highest monthly total since December 2002 when 44,000 were advanced, according to trade association UK Finance. Many people who would have taken their [...]
David Beckham scores stake in UK electric vehicle firm Lunaz June 3, 2021 David Beckham may be known for his impressive collection of classic cars, but the former England footballer is now swapping gas-guzzlers for electric vehicles. The maverick midfielder has taken a 10 per cent stake in Lunaz, a Silverstone-based company that electrifies classic cars such as Bentleys, Rolls-Royces and Jaguars. He joins a star-studded teamsheet of [...]
Foxtons expect profits to shoot ahead of past two years June 3, 2021 Foxtons confirmed to markets this morning that they expect profits to be “significantly ahead of both 2020 and 2019” after a bumper start to the year. The firm has seen a 49 per cent increase in Q1 sales revenues versus both 2020 and 2019, and the sales commission pipeline is now 65 per cent ahead [...]
UK Residential Reit looks to raise £150m in stock market float June 2, 2021 The UK Residential Reit today unveiled plans for an initial public offering on the London Stock Exchange as it looks to cash in on the UK’s housing shortage. The real estate investment trust, which was set up to invest in privately rented residential properties outside London, is targeting total proceeds of £150m plus an issue [...]
Billionaires eye Bitcoin as crypto-related services expand June 1, 2021 CryptoCompare's Francisco Memoria gives us a rundown on what's happened in the cryptocurrency world over the last week.
UK missed out on £110bn of services exports after Brexit referendum, say wonks June 1, 2021 The UK has lost out on more than £110bn of services exports as a result of the 2016 Brexit referendum, according to a new study from Birmingham’s Aston University. Academics said services exports were £113bn lower between 2016 and 2019 than they would have been if the UK had not voted to leave the EU. [...]
Thinking around corners on UK rental market could transform life for the better June 1, 2021 With pubs and restaurants open across London once again, the capital’s young professionals can return to one of their favourite pastimes: gathering together over a drink to complain about the rental market. We all know the stereotypical ladder: you begin in a slightly shabby, probably shared flat, you move on to somewhere on your own [...]
CMA and EU antitrust watchdogs eye AstraZeneca’s $39bn Alexion deal June 1, 2021 EU antitrust watchdogs and are set to decide by this weekend whether to approve AstraZeneca’s $39bn bid for biopharmaceutical company Alexion, a European Commission filing revealed today. Anglo-Swedish drugmaker AstraZeneca sought approval for the deal on Monday. However, the UK’s competition regulator is reviewing the takeover bid for the US-based pharma firm, until 5 July – [...]
West End gets bank holiday boost as shoppers flock to central London June 1, 2021 Shoppers flocked to London’s West End over the bank holiday weekend, keen to make the most of shops, restaurants and bars in the sunshine. Footfall in the area was up 67 per cent over the bank holiday weekend when compared with last weekend’s figures, data from New West End Company found, which represents 600 retail, [...]
Annual house price growth hits highest level for seven years in May June 1, 2021 Annual house price growth rose to 10.9 per cent in May, the highest level in nearly seven years. Prices shot up 1.8 per cent month-on-month, following a 2.3 per cent rise in April, according to new Nationwide data. The new record average house price is £243k, up by almost £24k over the past twelve months. [...]