The year-on-year growth in house purchase lending in Scotland reported today by the Council of Mortgage Lenders (CML) has been welcomed as a signal of optimism for the sector by the country’s home building industry.

With a 17% increase reported in the fourth quarter of 2015 compared with the same period the previous year, trade body Homes for Scotland pointed to the importance of the popular Help to Buy (Scotland) shared equity scheme in sustaining growth in both lending and construction.

Chief Executive Nicola Barclay (right) said:

“With the majority of Scots still aspiring to own their home, these latest CML statistics showing annual increases in lending by both value and volume will be encouraging news for those looking to take steps onto or up the housing ladder.

“The next phase of the Scottish Government’s hugely successful Help to Buy (Scotland) scheme has a crucial role to play by acting as a further driver for growth, helping to bridge the deposit gap and increase the supply of vital homes and jobs.”