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Latest property news
Proptech Lettings platform secures £7m from Santander ahead of January launch
Online property management portal Apropos says it has signed up 25 representatives so far to its lettings proptech service ahead of the official launch in January. At that time it is expected that Apropos’ territory owners will cover 70% of London and 45% of the UK. Developed by Edinburgh-based lettings and property management firm DJ Alexander, Apropos has also secured funding worth £7 million ahead of the launch, via Santander. This is the first time that DJ Alexander has sought exterior funding for the portal, which has taken the company several years to develop, and will be rolled out across the UK over the next three years. “We want the Apropos platform to be the place where the best landlords want their properties listed and where tenants know they can trust our service,” says founder David Alexander (left). “We want our partners, our landlords and our tenants to believe in what we do and ensure that we have the best platform combined with locally based property experts creating a platform that changes the way in which letting is delivered.” Richard Mathieson, head of Santander’s Structure Finance division, says: “We have been working with DJ Alexander over the past 10 months…
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Latest property news
Are first-time buyers living in La La Land?
Santander launches national events to educate first-time buyers after research shows massive knowledge gaps and misconceptions.
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Latest property news
Santander and Legal & General bosses appear to disagree over challenges faced by first time buyers
The mortgage arm of Santander has claimed today that owning a home is cheaper than renting in all areas of the UK and that first time buyers shouldn’t be put off by the challenges of saving up a deposit because of the costs gap of owning rather than renting a property. Santander reckons first time buyers in the UK can on average save £2,250 a year by owning a property, and £3,648 in London. “Many first time buyers understandably focus on the challenge of saving for a deposit and wonder how they will afford a property,” Miguel Sard (right), Managing Director of mortgages at Santander UK says. “However, it is often assumed that when you purchase a property you will be under greater financial pressure and our research shows the reverse is true.” But Kevin Roberts of Legal & General Mortgage Club (below) has been quick to point out today that the almost impossible task faced by many first time buyers to save up a deposit means many are unable to access the annual ‘savings’ to be made from owning versus renting that Santander is so keen to tout. “For many aspiring homeowners, saving for this initial deposit is easier said…
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