NEWS

The latest from Balance for Business

Business Growth Fund to expand in Ireland with new head

The Business Growth Fund (BGF) has expanded its investment team into the Republic of Ireland with the appointment of Leo Casey, who is expected to join in September. Leo joins BGF from IBI Corporate Finance, where he was a director and board member. Leo has over 17 years of experience of the Irish mid-market where […]

MORE

Co-op Bank Strikes £700m Rescue Deal

The Co-operative Bank has agreed a £700m rescue deal with its US hedge fund owners that will allow the bank to continue as a “viable stand-alone entity”. The Manchester-headquartered bank has confirmed that about £700m of additional capital is to be raised, meaning it will be able to meet regulatory capital requirements in full in […]

MORE

Lloyds misses HBOS scandal payouts date

Lloyds Banking Group is due to miss a self-imposed deadline to compensate owners of small businesses ruined by the HBOS Reading scandal. Lloyds said in April that its £100 million compensation scheme would make offers to victims by the end of June. However, it is understood that fewer than ten of the sixty-four people affected […]

MORE

OakNorth lends £20m to help business open 24 new sites

OakNorth Bank has lent £20m to Brasserie Bar Co Ltd, which will enable the business to open 24 new sites and create 700 jobs. Brasserie Bar Co Ltd operates two businesses: the White Brasserie Company, a pub dining business; and Brasserie Blanc, a French brasserie business. The White Brasserie Company was established in 2010 and […]

MORE

£130m Wandsworth apartment scheme secures planning

Frasers Property has secured planning permission from Wandsworth Council for a new £130m Thameside apartment building. The Singaporean developer – which specialises in London property – will create 172 mixed-tenure apartments at Riverside Quarter in Wandsworth. The development on the banks of the River Thames and River Wandle is one of the largest residential planning […]

MORE

Specialist lender launches 13 new products

Buy-to-let and specialist lender Fleet Mortgages has announced the launch of a new product range which covers its three key borrower groups: standard (individual), limited company and HMOs. All 13 new products are available with immediate effect. The standard and limited company products are offered with a rental calculation of 125% at 5%. The product […]

MORE

Crowd2Fund enters property lending market

Crowd2Fund has launched a new property loan product which qualifies for inclusion within the platform’s Innovative Finance Isa (IFIsa). The new product can be secured against commercial or residential property and is targeted at businesses which own property, or directors who are willing to offer their property as security. Crowd2Fund will be providing loans between […]

MORE

British landmark to be transformed into luxury Raffles hotel

Raffles Hotels & Resorts has signed an agreement with Hinduja Group and Obrascon Huarte Lain Desarrollos (OHLD) to transform the Old War Office in London into a hotel. Owners the Hinduja Group and OHLD acquired the Old War Office building in 2014 and in February were granted planning permission to redevelop the Whitehall property, as […]

MORE

Over 3,500 firms give up permission to advise on P2P agreements

A total of 3,555 firms have voluntarily given up the permission to advise on peer-to-peer agreements by cancellation or variation of permissions since April 2016. The figures were revealed by the FCA following a freedom of information request submitted by Bridging & Commercial. The FCA informed B&C that around 15,000 firms were originally authorised to […]

MORE

Industry reacts to hung parliament

Theresa May has been unsuccessful in her bid to increase the Conservative majority in parliament as the UK enters crucial Brexit negotiations. After a tumultuous year for businesses – with dramatic fluctuations in the value of sterling and concerns over access to the single market – some saw the general election as an opportunity to […]

MORE