21st Jul 2021 09:43
Foxtons Group PLC - London-based estate agent - Confirms it is reviewing strategic options for mortgage broking business Alexander Hall Associates, which could include the possible sale of the division. This follows trade publication Mortgage Solutions on Tuesday reporting that mortgage advice firms have been approached by third parties acting for Foxtons as it searches for a buyer for the Alexander Hall business.
https://www.mortgagesolutions.co.uk/news/2021/07/20/foxtons-looks-for-buyer-for-mortgage-broker-alexander-hall/
Back in April, Foxtons said mortgage broker revenue had increased by 20% to GBP2.3 million in the first quarter of 2021 from GBP1.9 million a year before, driven by new purchase activity. For all of 2020, mortgage broking revenue was GBP8.1 million, down 4.7% from GBP8.5 million in 2019.
Earlier this month, Foxtons said Chair Ian Barlow will step down by the end of 2021, after a major shareholder called for "radical" changes to the board following years of share price declines.
Current stock price: 49.10 pence, up 5.0% on Wednesday
Year-to-date change: down 11%
By Tom Waite; [email protected]
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