Taylor Wimpey, the housebuilder, has struck a deal with a group of its main creditors, bringing close to completion long-running talks to restructure its debt and securing greater certainty over its future.

The approval on Tuesday from the eurobond holders gives the company the support of leading members of its three classes of debt for a restructuring. This will ease the pressure from its debt load but hand creditors warrants to subscribe to 5 per cent of stock, according to people close to the situation.