Donald John Trump (born June 14, 1946) is the 45th and current president of the United States. Before entering politics, he was a businessman and television personality. Trump was born and raised in the New York City borough of Queens, and received a bachelor's degree in economics from the Wharton School. He took charge of his family's real-estate business in 1971, renamed it The Trump Organization, and expanded its operations from Queens and Brooklyn into Manhattan.
The company built or renovated skyscrapers, hotels, casinos, and golf courses. Trump later started various side ventures, mostly by licensing his name. He owned the Miss Universe and Miss USA beauty pageants from 1996 to 2015, and produced and hosted The Apprentice, a reality television show, from 2003 to 2015. Forbes estimates his net worth to be $3.1 billion.
First-time homebuyers can now borrow up to 5.5 times income with Lloyds and Halifax
dailyrecord.co.ukLending giant Lloyds will now allow first-time buyers to borrow up to 5.5 times their income, in moves to help people get on the property ladder.
The multiple has been increased from a loan-to-income ratio of 4.49.The bank said that based on a household income of £50,000 and a deposit of 10 per cent, this will increase the maximum loan available from £224,500 to £275,000.
To qualify, and subject to affordability, customers must apply for a first-time buyer mortgage with Lloyds Bank or its sister brand Halifax, have a total employed household income of £50,000 or more, have a deposit of at least 10 per cent and not be using shared ownership or shared equity schemes.The bank said it is making £2 billion of lending available to first-time buyers borrowing more than 4.5 times their income.Andrew Asaam, homes director at Lloyds Banking Group, said: “Getting the keys to a first home is a big deal, but it’s tough right now.
Aspiring homeowners have been struggling with house prices rising faster than their wages. They need to save for a deposit, keep up with rent, and choose the right mortgage.”Toby Leek, NAEA (National Association of Estate Agents) Propertymark president, said: “It is encouraging to see banks offering help to first-time buyers at a time when many continue to struggle to take their first step onto the housing ladder, and it will be interesting to see what long-term benefits this scheme may generate.”The latest Money and Credit data from the Bank of England shows that individuals borrowed, on net, £2.8 billion of mortgage debt in July, the highest since November 2022 (£3.3 billion), and up from £2.6 billion in June.Net mortgage approvals for house purchases, which is an indicator of future borrowing, increased
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