Cristina Diaconu

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Apartment Scheme in Croydon Receives Funding
Residential

Apartment Scheme in Croydon Receives Funding

The 251-unit Taberner House scheme in Croydon has received a £100 million funding from Legal & General (L&G), which agreed on the deal with developer HUB and specialist investor Bridges Fund Management. L&G will take ownership of the 35-storey building, on which the main contractor, Henry Construction, has already started construction work. "Our funding deal will act as a catalyst for further housing development in Croydon and will help support the wider regeneration of the area. Bringing together the development…

Business, Money, Legal & Jobs

Who Is Eligible for a Mortgage?

A research by Online Mortgage Advisor shows that a fear of rejection makes those working part-time, flexibly or who are self-employed, along with those who have a poor credit history not apply for a home loan. To help people better understand what the mortgage requirements are, the advisor has published a list of five types of potential borrower who assume they won’t qualify, but they actually could. “Advice varies enormously between brokers and criteria vary significantly from lender to lender.…

Loan Facility for Peterborough Properties
Business, Money, Legal & Jobs

Loan Facility for Peterborough Properties

Mantra Capital, the boutique commercial finance consultancy, has arranged a £3.25 million load facility for a newly completed 48-unit office-to-residential development in Peterborough. The residential investment loan was against properties comprising one and two-bed flats that will be let out by Mantra’s client, Arbuthnot Commercial, primarily to young professionals. “Arbuthnot Commercial is a fantastic lender to work with, as their underwriting is flexible and they always make the effort to genuinely understand a borrower’s circumstances and goals,” said Nimesh Sanghrajka,…

Kensington and Chelsea Are Planning a Property Portfolio
Business, Money, Legal & Jobs

Kensington and Chelsea Are Planning a Property Portfolio

The council of Kensington and Chelsea are planning to launch a property portfolio worth over £220 million, divesting from shares held by the borough’s pension fund. The borough councillors have approved a strategy to increase property investment to 20% of the council’s £1.1 billion pension fund, up from the current investment of just 5%. The new proposal would see the council divest from its global share portfolio by 9%, and utilise £78 million in cash in order to create the…

Ideal Flatmate Platform Keeps Growing
Residential

Ideal Flatmate Platform Keeps Growing

Ideal Flatmate, the UK’s first flatmate matching site, has seen rapid growth over the past 12 months, passing £1 million in seed funding. It is now experiencing 2,000 properties being uploaded each month by landlords and letting agents with rooms to fill. It also attracts more than 150,000 visitors each month, with flat hunters searching for rooms and looking to ‘buddy up’ using it’s matchmaking tool. The funding will allow Ideal Flatmate to accelerate its business plan, fast-track its recruitment…

Flat Prices Increase
Business, Money, Legal & Jobs

Flat Prices Increase

A new research from Halifax shows that over the last five years the average price of a flat in the UK has risen by £75,074, equivalent to £1,251 per month. Despite their drop in popularity, the average price of a flat has grown from £157,061 in 2013 to £232,135 in 2018; accounting for 15% of all home sales. Although last year six in every 10 property sales were either terraced or semi-detached properties, flats prices have still increased in value…

New Social Homes in London
Residential

New Social Homes in London

The Mayor of London, Sadiq Khan, has announced a special funding programme that will bring 10,000 new homes in the capital over the next four years. In what will be the first ever City Hall programme dedicated to supporting council housing, the funds will be taken from the £1.67 billion Khan secured from the Government in the Spring Statement to help increase dramatically London’s rate of council home building. “I grew up on a council estate and I know first-hand…

New Research on Home Renovation and Redecoration
Residential

New Research on Home Renovation and Redecoration

A research from Direct Line Home Insurance found that approximately half a million homeowners in the UK go over budget when redecorating or renovating their home each year, especially younger people. They underestimate the cost of it by around £3.4 billion. Home owners also spend an average of £7,427 more than they expected, which is 278% over budget. While regionally, Londoners are the most likely to overspend, as they put aside just £6,278 but end up paying out £11,128 to…

Interest-Only Mortgage Lowered Since 2012
Business, Money, Legal & Jobs

Interest-Only Mortgage Lowered Since 2012

The UK Finance figures show that in the past six years the number of interest-only mortgages has almost halved, down 46% since 2012 to 1.7 million outstanding mortgages. The total value of the interest-only mortgage book is £250 billion, down 37% in the same period. At the end of 2017, there were 1,293,000 pure interest-only mortgages outstanding, a 14.9% fall over the last year, alongside 429,000 partial mortgages outstanding, a 2.1% rise. The number of interest-only loans at over 75%…

Yorkshire and the Humber a BTL Hotspot
Residential

Yorkshire and the Humber a BTL Hotspot

A survey led by Knight Knox, residential property experts, looked at the responses of 500 landlords in the UK and found that the majority of buy to let landlord with properties in Yorkshire and Humberside are feeling positive about the future of the rental market, with many thinking about buying more properties to rent in the future. The respondents with properties in the Yorkshire and Humberside region said they intend to buy another buy to let property in the next…