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...The top US consumer finance watchdog has raised doubts about megamergers in the credit card industry, just as Capital One attempts to close its $35.3bn takeover of card issuer Discover Financial Services...
...He added that the declines were “most extreme” in finance. “It seems like a flattening of the wage curve,” he said. “Bank tellers are not having their pay cut.”...
Rightmove data comes against a backdrop of recent volatility in mortgage market
...Tom Bill, head of UK residential research at estate agency Knight Frank, said “an issue of affordability” had been the “primary reason” for London’s underperformance over the past eight years....
...It develops both residential and commercial property and has worked on big international developments, including a mixed-use residential project in Shoreditch, London, that preserved the remnants of a 1577...
...Its bad loans from residential mortgages have already risen 9.6 per cent to Rmb27.8bn ($3.8bn). Defaults by Chinese developers have exceeded $110bn over the past three years....
...Even the inventory of new homes dipped a bit in 2023, as high mortgage rates put a damper on Americans’ desire to finance anything....
...The data, a snapshot of the health of the housing market, suggests the residential market is recovering as the squeeze from higher borrowing costs seen over the past two years eased....
...Rising costs squeeze the profitability of developers who need a steady sales pipeline to finance more supply....
Official figures highlight impact of higher borrowing costs on landlords and tenants
...In the UK Finance figures, buy-to-let loans or remortgages were down by 53 per cent....
...But Chris Sykes, consultant at broker Private Finance, said the minimum five-year fix would allow borrowers time to work through any short-term fluctuations in property prices and for the mortgage balance...
...UK Finance, the industry body, has estimated that about 1.6mn fixed-rate deals will end over the course of 2024....
...It must be noted that these statistics reflect the unique experience of multilateral development banks and development finance institutions....
Number of sellers listing in the capital this week was up by 39 per cent on the previous week
...“We have built nearly 10,000 over the past five years and the vast majority of these have been for affordable tenures, but finances are no longer working.”...
...They asked the Treasury to create a carve out that would maintain the tax breaks for “large-scale residential property acquisitions”....
...Simon Gammon, managing partner at broker Knight Frank Finance, said: “The recovery in housing market activity is taking hold despite an uncertain start to the year for mortgage rates.”...
...Tom Bill, head of UK residential research at estate agency Knight Frank, said: “The economic data has fluctuated since Christmas but the direction of travel for the housing market is up as mortgage rates...
FT Money is seeking comments from readers who have taken out such a mortgage or rejected the idea
...DIC Corp, a lossmaking, heavily indebted chemicals company, owns the museum and an unstated proportion of this collection....
...“Rents were already incredibly unaffordable even before the recent bout of high rents,” said Neal Hudson, a housing market analyst at Residential Analysts, adding that this has been driven by “rising wages...
...He is pressing for the government to remove the option to have instant access to finances through an LPA without a medical assessment....
...“Sellers are having to continue to rein in their price expectations,” says Lucian Cook, head of UK residential research at estate agent Savills....
...“People are increasingly looking at their main home as a way of supplementing their pension provision,” said Lucian Cook, residential research director at Savills, referring to people approaching retirement...
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