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...Then you tell them ‘congratulations, you moved to Palm Beach, you can’t be a member of any of the old-school clubs because the wait-list is 10 years long’.”...
...These debts include mortgages and loans for cars, rental equipment and yachts....
...More than 90 per cent of UK borrowers take out a fixed-rate mortgage for five years or less. Long-term fixed-rate mortgages are the norm in the US....
...These borrowers continue to favour long-duration fixed mortgages, preferring financial predictability over the chance to save money if mortgage rates fall....
...The average two-year mortgage with 60 per cent loan to value was 4.62 per cent in February, according to the central bank....
...from the Bank — had added “stability” to the mortgage market....
...Banks charge more for high loan-to-value mortgages, given the higher risk to the lender should the property fall into negative equity....
...Libor, in contrast, is the cost of unsecured lending between banks, but after a massive scandal and an equally massive change in the way regulators view bank capital, there hasn’t been much action in that...
...As a reminder, let’s recycle a (slightly dusty) chart from Toby’s piece last June on how the long-term composition of mortgages has shifted: Comparing the actual share of variable-rate mortgages with the...
...A number of UK lenders have announced mortgage rate increases in a sign that the race towards more competitive offers is slowing, as the prospect fades of imminent Bank of England interest rate cuts....
...The increase reflects broader growth of the country’s mortgage market. Central bank figures published this month show the total mortgage portfolio of Russian banks increased by 34.5 per cent last year....
...Aimed at older borrowers, Rios are paid off in the event of their death, or when they move into long-term care or sell their house....
...And since 2008, mid-market corporates and mortgage borrowing have increasingly moved away from banks....
...Net mortgage approvals for house purchases rose to 47,400 in October from 43,700 in September, Bank of England data showed....
...Uninsurable properties could spill over into other areas, warned the Bank for International Settlements in a November paper, by making mortgages harder to secure and increasing banks’ credit risks if homes...
...And who wants to worry about a mortgage when you’re lying on a beach? I’m more worried about what’s for lunch. James Max is a broadcaster on TV and radio and a property expert....
...Canadians can rarely lock in rates for such a long period. Instead, Canada’s C$2.1tn ($1.5tn) mortgage market is made up of short-term fixed and variable-rate loans....
...Smaller bonuses at banks have been driven by a sustained slump in dealmaking activity....
...Are there times where people could be more likely to recommend the products of one bank or another bank because there’s a commission involved? What would you add?...
...There are mortgage brokers and there are mortgage brokers. A good one will find you the cheapest deal on the market; a great one will help you strategise for the long term....
...BNP Paribas has agreed to pay up to €600mn to settle a long-running dispute with French customers who alleged they were misled into taking out risky mortgages in Swiss francs....
...With swap rates so far out of kilter with the base rate, though, some brokers questioned how long swaps would continue to decline — and alongside them, mortgage interest rates....
...Meanwhile, mortgage approvals rose in February to a 17-month high, according to separate figures released by the Bank of England this week....
...UK stocks have long traded at lower valuations than US markets, but recent underperformance has left the UK market looking particularly cheap....
...While experts say that in the long term mortgages are still likely to come down, Wednesday’s inflation news will give pause to providers offering increasingly generous rates....
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