BREAKING NEWS – top 5 stories 28/07/2021

Daily bite-sized proptech and real estate news in partnership with Proptech-X. Today, Stanton looks at OnTheMarket’s annual statement, Starling Bank’s new acquisition, and Purplebricks one million shares giveaway.


  1. OnTheMarket give an upbeat annual general meeting statement
  2. Starling Bank buys Fleet Mortgages for £50 million
  3. Completions could increase by over 25% in 2021
  4. Purplebricks CEO & CFO to receive one million shares
  5. Property scarcity is hindering the market


OnTheMarket give an upbeat annual general meeting statement

OnTheMarket has issued an upbeat statement outlining its financial successes this year, saying that its financial year to 31 January 202 was “a year of strong performance and considerable progress.”

Christopher Bell, OnTheMarket’s Non-Executive Chair, said: “We were delighted to achieve our first year of profitability since admission to AIM, notwithstanding the onset and impact of the COVID-19 pandemic.

“It is particularly pleasing to report that, from the foundations established, our strong performance has continued in the current year with further operational progress made and trading in line with the Board’s expectations.

“We have a clear vision in place to build a differentiated, technology-enabled property business providing services for agents, housebuilders, advertisers, and consumers that offers ‘best in class’ products and platforms across the broader property marketplace.”


Starling Bank buys Fleet Mortgages for £50 million

Starling Bank has taken its first foray into the mortgage nexus, acquiring specialist lender Fleet Mortgages. The business, which provides mortgages to landlords via intermediaries, has turned over more than £2 billion.

The significance of the deal is that Fleet Mortgages will now have access to the huge capital in Starling to improve its offering. Starling benefits too. Through their new acquisition, they’ll be able to access the mortgage market.

Anne Boden, CEO of Starling, said: “The acquisition of Fleet Mortgages is the start of our move into mortgages as an asset class and builds on a number of forward-flow arrangements that we’re doing with leading non-bank lenders.

“Fleet’s existing management team will remain in place and Fleet will continue to operate as a stand-alone company, keeping the original name and brand. We’re buying Fleet because it is very good at what it does, not because we want to change it.”

Starling is a challenger bank in the sense it is a digital bank of only seven years old. Its core business to date has been current accounts and business accounts.


Completions could increase by over 25% in 2021

Despite lockdown, furlough, the pandemic, and other factors, it looks as though the upward trajectory of completions is set to continue unabated.

The number of completed properties recorded at HM Land Registry in 2021 is around 1.37 million. In preceding years, a typical figure hovers around the one million completions mark. The high tide for completions in the UK was in 1988 when over two million homes were sold.


Purplebricks CEO & CFO to receive one million shares

The Purplebricks annual report recently revealed a bonus scheme for executives if they meet certain objectives.

Although CEO Vic Darvey and CFO Andy Botha had to take a 20% salary snip for three months due to the pandemic, they have both landed an eye-watering allotment of shares.

Darvey and Botha have scooped 735,437 and 307,500 Purplebricks shares, respectively. The shares can be cashed after three years, subject to performance.

Purplebricks news the annual account revealed CEO and CFO in line for huge shares payout.


Property scarcity is hindering the market

In other news, many agents are complaining that the amount of stock coming to the market is at a seasonal all-time low, a sentiment backed by intel from the major portals.

The data can be interpreted in two ways. If there is little inventory coming to the market, then prices remain high and buoyant. The counterargument is that the public is not listing properties.

This could be because the people who wanted to move have brought forward their plans due to the SDLT holiday. We’ll likely see just a trickle of buyers and sellers in the Autumn as the market normalises.


If you have a view – please let us all know by emailing me at [email protected] – Andrew Stanton Executive Editor – moving property and proptech forward.

Andrew Stanton

CEO & Founder Proptech-PR. Proptech Real Estate Influencer, Executive Editor of Estate Agent Networking. Leading PR consultancy in Proptech & Real Estate. Want to contact me directly regarding one of my articles or maybe you'd like a chat about future articles? Email me via [email protected]

You May Also Enjoy

Letting Agent Talk

How to Be an Awesome Landlord in 2022

Some people may view being a landlord as an easy way to make money, but there’s much more to it if you want to truly excel in this role. The best landlords always go above and beyond to provide comfortable homes for their tenants and make them feel as welcomed as possible. Indeed, to be…
Read More
Property for sale
Estate Agent Talk

Selling Your House? Here’s What You Need To Do

Selling your house is a big decision. It’s not something you do every day or even every year. So, when the time comes to sell, you want to make sure you’re doing it right. That means getting the best possible price for your home and making the process as smooth and stress-free as possible. So,…
Read More
Estate Agent Talk

What Are The Factors To Appreciates The Real Estate Property Prices

Are you planning to sell your home? Are you buying a home? Whatever the scenario is, there are some things that you need to look after. In case you are selling your house, you have to set the price on the basis of those factors, or you need to ensure that all these things are…
Read More
Breaking News


A roundup of the week’s top property and proptech news stories in partnership with Proptech-X   Table of ContentsHide On The Market: Housing market starts to rebalance as remarkable buyer and seller confidence prevails Renting to Students: TDS Poll Confirms Common Issues and Reasons for Disputes in Student Lets LexisNexis and Coadjute partner speeding property market…
Read More
Estate Agent Talk

How can Cash House Buying Agencies thrive in 2022?

Like many other industries in the world, the UK property market is constantly evolving. Industry players therefore need to keep a keen eye on the key markers that define the state of the industry. As 2022 ushers in new changes and realities, industry players like cash house buying agencies need to arm themselves with current…
Read More
composite gates
Home and Living

Composite Garden Fencing / Gates – Pros & Cons

As much as many of us enjoy great relationships with our neighbours, we do also relish privacy between our properties / boundaries. Years ago I remember rows of gardens with no more that a wire fence with wooden posts separating each with some having missing sections and even those totally without. Many neighbours would have…
Read More