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UK Coal to sell brownfield sites for development

UK Coal is poised to sell up to 49,500 acres of brown field sites around its mines, both active and closed.

The move, which will earn the company more than £500m, will see the development of commercial, industrial and residential property on the sites. Jon Lloyd, former head of property at HBOS, joined UK Coal in July.

The company says more than 14,000 homes could be built on the land which was inherited by the firm after the coal industry was privatised in 1994.

The first planning application will be for a 60-acre site at Pontefract in Central Yorkshire in December for 900 homes and several commercial developments.


This brainwave could lead to self-harm

Rumour has it that there’s been a big falling out within the Abbey’s marketing team. It seems that one faction wanted to call its new mortgage offering the ‘Victor Meldrew’ range while another felt the ‘Andy Millman’ mortgage’ more appropriate.

A&L’s B2L unit was great in sorting out our tricky case

From Mike Lawson There has been some criticism of Alliance & Leicester’s prime buy-to-let unit recently in Mortgage Strategy’s letters pages so I would like to offer an alternative view. In early October, we submitted a case to A&L in which an urgent exchange of contracts – and hence mortgage offer – was required. Despite […]

Quick Bridge to launch at Expo

Quick Bridge is to launch its bridging service at the London Mortgage Business Expo at Earls Court this week. As part of the launch package the company will give away a Sony PSP to every broker that successfully completes a deal before December 14. Brokers should visit www.quick to register.

Average home now costs £200,000

The average house in England and Wales now costs more than £200,000, figures from the Land Registry show. Its latest quarterly report, which studies sales between July and September, shows that the average price rose to £211,453, up 9% on the year. The most expensive county in which to buy a property was Surrey, where […]


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