News article 16/11/2012

(Issued 16 November 2012) 
 

Responding to the latest Lloyds TSB Scotland House Price Monitor which reports “no signs of any robust recovery in the Scottish Housing market” in the latest quarter, home building industry body Homes for Scotland reiterated its call for the UK Government to increase the availability of mortgages and boost consumer confidence.

Chief Executive Philip Hogg said:

“This report highlights that consumer confidence still remains low and follows other recent research findings citing concerns about job security and mortgage availability as major barriers to buying a home.

“Many would-be buyers have assumed that they cannot get a mortgage and given up looking for a new home.

“Whilst our MI New Home scheme is helping to address the difficulties caused by large deposit requirements, clearly more needs to be done – and fast.

“We need lenders to send positive signals that mortgages are available and the UK Government to stimulate the wider economy and increase the general flow of both mortgage and corporate lending which continue to hamper recovery in our sector.”