Responding to latest figures from the Council of Mortgage of Lenders showing borrowing for First Time Buyers (FTBs) in Scotland is up 5% year-on-year, Chief Executive of industry body Homes for Scotland Nicola Barclay said:

“We are encouraged by the figures on lending to FTBs, with the number of loans issued to this crucial group up 5% on the same period last year.  However, today’s figures also highlight a decline in activity for other home buyers north of the border, which is concerning given the importance of a healthy housing market which offers flexibility at all rungs of the ladder.  

“With latest research from Bank of Scotland highlighting that buying here is 12% cheaper than renting compared with the UK average, it is vital that we continue to see investment in a sustainable Scottish market which benefits all purchasers.”