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Builders welcome lending figures with note of caution

With the latest Scottish report from the Council of Mortgage Lenders showing the highest quarterly number of First Time Buyers since 2007, industry body Homes for Scotland welcomed the fact that 8600 mortgages were taken out by this customer group during July - September this year but issued a note of caution in relation to the reported fall in activity for other home movers.

Chief Executive Nicola Barclay (right) said:


“Today’s figures for First Time Buyers are good news as this group is the lifeblood of the housing market.  They also point to the positive impact the Scottish Government’s Help to Buy shared equity scheme is continuing to have on new build sales, with the ceiling price now targeted at this end of the market.

“However, with the volume of loans to other home buyers 12 per cent down on a year ago, we must not forget the importance of ensuring activity at all levels of the market so that people can move up and down the housing ladder according to their own needs and aspirations.

“We therefore continue to press government for support, including our request for an early review of the bandings of the Land & Buildings Transaction Tax at the middle to upper levels to ensure there are no barriers to aspirational movers who may otherwise choose to stay where they are.”

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