Read this morning’s papers: Bitcoin first for property development/London mayor rejects numbers change at police HQ site

News

Helen Ozolins

06 September 2017

Ultimo founder to sell Dubai apartments in bitcoin (The Independent/FREE)
Michelle Mone, the founder of the Ultimo lingerie brand, is launching a development in Dubai where the properties will be sold in bitcoin – a first for the real estate sector.

London mayor rejects application to reduce proportion of affordable housing at police HQ site (FT/£)
Plans to modify the number of homes being built on the site of the former headquarters of the Metropolitan Police have been described as simply unacceptable by London mayor Sadiq Khan.

Record year for Redrow (The Telegraph/FREE)
Housebuilder Redrow had a record year, with revenue up 20% at £1.66bn, pretax profit 26% higher at £315m and completions up 15% at 5,416.

Buy-to-let lender Charter Court plans listing (FT/£)
Charter Court Financial Services is planning a listing on the London stock exchange, potentially valuing the buy-to-let lender at £500m.

FCA considers rule change on interest-only mortgages for retired borrowers (The Times/£)
The Financial Conduct Authority is considering a change to the rules on interest-only mortgages that would help older homeowners, many of whose mortgages are approaching maturity.

Housing efficiency targets could include ban on sales of poorly insulated homes (The Times/£)
A ban on selling houses with poor insulation would be an effective measure to improve housing efficiency, according to government-funded research by the UK Energy Research Centre.

Leaked document reveals plans to curb migration (The Guardian/FREE)
A leaked government document reveals plans to introduce curbs on migrants as soon as Brexit comes into effect, likely to be in March 2019.

In the news this morning, a bitcoin first for property developers – Michelle Mone, better known as the founder of Ultimo, will sell some of the properties on a development in Dubai in bitcoin. The proportion of affordable homes built on the former Metropolitan Police HQ won’t fall further after the London mayor called the move simply unacceptable. Political and economic uncertainty and a skills shortage did not prevent Redrow from producing record results last year. Demand remains robust, and the housebuilder has upgraded forecasts out to 2020. Ultimo founder to sell Dubai apartments in bitcoin (The Independent/FREE) Michelle Mone, the founder of the Ultimo lingerie brand, is launching a development in Dubai where the properties will be sold in bitcoin – a first for the real estate sector. London mayor rejects application to reduce proportion of affordable housing at police HQ site (FT/£) Plans to modify the number of homes being built on the site of the former headquarters of the Metropolitan Police have been described as simply unacceptable by London mayor Sadiq Khan. Record year for Redrow (The Telegraph/FREE) Housebuilder Redrow had a record year, with revenue up 20% at £1.66bn, pretax profit 26% higher at £315m and completions up 15% at 5,416. Buy-to-let lender Charter Court plans listing (FT/£) Charter Court Financial Services is planning a listing on the London stock exchange, potentially valuing the buy-to-let lender at £500m. FCA considers rule change on interest-only mortgages for retired borrowers (The Times/£) The Financial Conduct Authority is considering a change to the rules on interest-only mortgages that would help older homeowners, many of whose mortgages are approaching maturity. Housing efficiency targets could include ban on sales of poorly insulated homes (The Times/£) A ban on selling houses with poor insulation would be an effective measure to improve housing efficiency, according to government-funded research by the UK Energy Research Centre. Leaked document reveals plans to curb migration (The Guardian/FREE) A leaked government document reveals plans to introduce curbs on migrants as soon as Brexit comes into effect, likely to be in March 2019.