Responding to the latest Scottish market report from the Council of Mortgage of Lenders, Chief Executive of industry body Homes for Scotland Nicola Barclay said:

“Whilst it is great to see First Time Buyer activity up around a quarter on the same period last year, today’s figures also highlight an annual fall for home mover lending which raises concerns given the need for a healthy housing market across all segments.  

“This would appear to underline our concerns regarding the impact of the Land & Buildings Transaction Tax with feedback from our members continuing to suggest that potential buyers of homes in higher bands are deferring the decision to move because of the additional sums payable compared to the old Stamp Duty system.  We will continue to monitor this market activity and share any ongoing concerns with the Scottish Government.”