THE Bank of The latest survey from Nationwide this week found house prices in the second quarter were on average flat in
Thankfully, Scottish borrowers are protected from this excess, which the Bank of
The Herald has analysed data from the
This allowed 6,100 first-time buyers to get onto the Scottish property market in the spring, making it the fourth most active region for first-time buyers in the
Bigger mortgages can partly be explained by a modest rebound in the Scottish property market. Separate research from LSL has shown that average prices grew by 4 per cent in the last year, with hotspots like
However, when compared to
However, he said borrowing was ticking along at an "affordable level" for his clients, who were also seeing a longer and more thorough mortgage application process thanks to the Mortgage Market Review, which was introduced by the regulatory authorities in April.
Nonetheless, predictions that interest rates will rise are prompting canny Scots to lock into ever longer fixed-rate mortgages to avoid a sudden escalation in their mortgage repayments.
"It goes against the psyche of the British consumer, who have a history of preferring two-year deals back-to-back but lots of borrowers recognise that rates are low and there will almost certainly be a rate rise in the next couple of years. They would not have considered locking themselves into fixed rates even two years ago, but many are surprised to see ten-year deals available at 4per cent or less."
THE Bank of
The latest survey from Nationwide this week found house prices in the second quarter were on average flat in