Mortgage Brain, a software developer co-owned by Barclays, Lloyds Banking Group, Nationwide, Royal Bank of Scotland Group, Santander and Virgin Money, is working with advisers from Deloitte on a potential sale. Insiders believe the Bromsgrove-based fintech company could fetch between £50m and £100m
An undersupply of affordable homes has made life harder than ever for first-time buyers, who have come to rely on the Bank of Mum and Dad. According to forecasts by JLL, the property consultant, UK house prices will increase by just 0.5 per cent this year, with a sluggish 1 per cent growth predicted next year. Amid Brexit and election uncertainty, transactions are set to decline. Yet the national market differs vastly from region to region, with some hotspots
Wealth Wizards has launched a new automated paraplanner tool to help firms provide retirement advice in less than two hours. Wealth Wizards is majority-owned by LV=, which has been using the tool as part of its telephone advice service. The provider says the tool has reduced the average time taken to provide advice from around seven hours to around 90 minutes
Ping An Insurance Group has hired Citi veteran Jonathan Larsen to lead a new $1 billion overseas fund than will focus on investing in financial and healthcare technology. The fund will be managed from Hong Kong and look to invest in early stage fintech and healthcare tech firms around the world, as China’s biggest insurer looks to expand beyond its home market. Ping An already has fintech experience through its Lufax subsidiary, China’s biggest P2P lending and wealth management platform