For Diane Stevens, the 1960s was a carefree time. As a hairdresser with her own salon, she spent her working hours styling hair into fashionable beehives and going to discos in the evening. Now aged 62 and receiving a pension, she’s worried about interest rates going up.
It took more than a year for Mark Hudson to find his six-bedroom home in the English countryside. Within weeks of moving in, he got a bid that topped the 1.75 million pounds ($2.8 million) the property cost.
U.S. private-equity investors Wilbur Ross and J. Christopher Flowers, who’ve made billions of dollars turning around industries from steel mills to Japanese banks, are lining up to finance British homebuyers as the country’s biggest banks pull back.