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...The company says it will lend up to six times the borrower’s income, far higher than the standard 4.5 times from high street banks....
...The data comes against a backdrop of recent volatility in the mortgage market. Home loan rates peaked in the summer of 2023 before declining sharply at the end of last year....
...The deal by the world’s largest home improvement company values Texas-based SRS at $18.25bn including debt and signals further emphasis on the professional contractor market for Home Depot, as consumers...
...Mortgage brokers have welcomed an “innovative” home loan aimed at first-time buyers, which requires a deposit of just £5,000 for homes worth up to £500,000....
...Mortgage rates were at 7.5 per cent, a 10-year high and more than double the 3.25 per cent interest Angela, who requested that the Financial Times not use her last name, was paying on the loan on her home...
...According to Jefferies, this is the largest ever buyback programme by a UK investment trust, with £1bn representing 9 per cent of the Scottish Mortgage Investment Trust’s shares....
...Simon Gammon, managing partner at Knight Frank Finance, said: “Demand for mortgages to buy homes has been rising since the new year and momentum will continue to build into the summer.”...
...The growing demand for mortgages that usually characterises the spring home buying season could delay approvals....
...“We did talk about waiting, and yes, we may have lost out a little when it comes to mortgage rates, but current rates are not high when you look historically, and I don’t think they will ever go back below...
...After years of catering to the already wealthy with ever bigger and more expensive homes, builders are rethinking their approach and prioritising affordability....
...The company expects to build 7,500 homes in the 12 months to July, down from almost 11,000 in the same period a year ago. Shares were broadly flat in morning trading on Tuesday....
...Karen Noye, mortgage expert at wealth management company Quilter, said: “The large increase in mortgage rates seen over the last couple of years is really starting to bite for some borrowers and this is...
...Rocket Company, owner of Quicken Loans, the country’s largest non-bank mortgage lender, is up 66 per cent since November....
...The buyback, which represents 9 per cent of the trust’s shares, is the largest-ever for an investment trust, according to analysts at Jefferies....
...The company on Wednesday reported home sales by its agents were down nearly 20 per cent in 2023, but said a recent pick up meant it was entering the new year with more sales in the pipeline than at the same...
...That’s why they have to react so quickly,” said Simon Gammon, a mortgage broker at Knight Frank. At the end of 2023 there was a rally in bond markets that prompted lenders to lower mortgage rates....
...“Previously, older borrowers may have used [mortgages] for home improvement, travel or to help a younger family member get on the property ladder,” said David Hollingworth, associate director at L&C, a mortgage...
...In 2021 the government introduced a 95 per cent loan-to-value mortgage scheme which officials say has helped close to 40,000 home buyers....
...“The city feels as vital as it has ever been: we wanted to be ahead of the curve; we didn’t want to get into a bidding war.”...
...NatWest customers moving off fixed-rate home loans faced an average £250 increase a month in their mortgage payments, he added....
...Homeowners who have locked in on low mortgage rates are reluctant to sell, limiting the supply of houses for sale....
..., the financial information company....
...Basically, I defined what was wrong with mortgage markets. These “modified mortgages” entailed you buying the home, borrowing the money and paying 1 per cent on the mortgage for three years....
...Brexit and mortgage regulatory changes also played a role, according to Richard Donnell, executive director at property consultancy Houseful....
...Lewis’s most controversial job is advising LetterOne, a company 49 per cent owned by two sanctioned Russian oligarchs....
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