19
May
Mortgage availability 'improves' for Scottish FTBs
There has been a "slow but perceptible increase" in mortgage
availability for first-time buyers (FTB) in Scotland, according to
a new survey.
Lloyds TSB research shows that the cost of borrowing has reduced
for many mortgage holders north of the border.
This comes after property consultancy Ducalian suggested that now
was the best time for FTBs to purchase property in nearly 20
years.
Professor Donald MacRae, chief economist at Lloyds TSB Scotland,
said: "The Scottish housing market continues to adjust to changing
circumstances with reduced sales, lower prices, but no precipitous
collapse."
His comments followed the release of Lloyds housing market
research, which showed that the average house price in Scotland
during the three months to the end of April was
£148,990.
Flat purchases were down 39 per cent on 2008's equivalent figures
and there have been 28 per cent fewer semi-detached sales over the
course of the year.
