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...The moves are the first significant drop in mortgage rates by big lenders since May....
...Extending mortgage terms beyond the historical norm of 25 years is a long-running trend, particularly among first-time buyers....
...Without the delays and uncertainties associated with securing a mortgage, cash has long conferred an advantage to homebuyers across the world....
...mortgages an impossibility....
...A video games artist in his thirties, Stones lives with his partner in a two-bedroom flat in east London, which the couple bought as their first property five years ago....
...The chief advantage is flexibility. Unlike fixed-rate deals, tracker mortgages rarely carry early repayment charges....
...This year, rising mortgage rates have resulted in falling sales across France....
...But first he needs to win an election....
...Figures from Nationwide on Friday showed the rising affordability crunch facing first-time buyers....
...There is evidence that some have taken advantage of this....
...Separate data from mortgage provider Nationwide showed that the price-to-earnings ratio rose to an all-time high in the first three months of the year....
...Economic data US homebuilder confidence is expected to have edged down to a reading of 66 in July from a reading of 67 in June, as rising mortgage rates threaten housing affordability for first-time buyers...
...First, Owen Walker talks to the chief executive of the app that investment banks are using to keep a closer eye on staff....
...“We expect the property market to be extremely active over the coming months as more borrowers look to take advantage of the super cheap rates on offer and the greater availability of low deposit mortgages...
...The strength of the housing market was bolstered by first-time buyers, according to Jamie Thompson of Manchester-based Jamie Thompson Mortgages....
...House prices rose sharply in the third quarter as homebuyers rushed to take advantage of the stamp duty discount....
...Wednesday is the first day of winter in northern hemisphere countries, according to the meteorological calendar. The seasons are not the only things that will be changing....
...First-time buyers are likely to feel hardest hit by a rise in mortgage interest rates, she adds....
...The advantage of low mortgage interest rates appears to have been heavily outweighed by the rise in house prices: whereas 15 per cent of first-time buyers in 2019 said borrowing enough based on their income...
...July’s data was also well below the monthly average of 145,000 of the first six months of the year....
...“Business has remained brisk as buyers try to take advantage of the stamp duty holiday and lenders and solicitors pull out all the stops to get deals across the line before the end of March.”...
...Mortgage approvals hit a 13-year high in August and the Nationwide house price index rose 5 per cent year-on-year in September....
...Not only are they more likely to lose their jobs when the furlough scheme ends, but also mortgage lenders have pulled many of the high loan to value mortgages on which they typically rely....
...UK house prices rose in November at the fastest annual rate in almost six years, despite the lockdown, according to the Nationwide Building Society, as buyers rushed to take advantage of the stamp duty holiday...
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