I was very pleased to see a report from the Halifax advising a 22% increase in those purchasing their first properties, hitting a total of £326,500.  I am still waiting to see what percentage this is of the overall market, as readers of my blogs will know that for me 40% or above is  the magic figure and a sign of a free flowing market.

We have also had recent announcements from a number of lenders introducing very competitive 10 year fixed rate mortgages.  This is something that I have always thought should be developed further, they are cost effective and lead to certainty for both lender and borrower.  I am also seeing clients who are having considerable problems getting decisions and loan papers from lenders who are continuing to blame the MMR review for ongoing problems.

It is essential that there is a free flowing mortgage market supporting the Scottish property market.

Lindsay Darroch
Partner & Head of Property 

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