“There were more home buyers in Scotland in the second quarter of 2017 than any other quarter since 2007”

Carol Anderson, Chair of UK Finance Scotland Mortgage Committee made this comment following publication of the Council of Mortgage Lender’s latest report on house buying activity in Scotland.

Report Findings

The report states:

  • Home buyers borrowed £2.5bn – up 35% quarter on quarter and 10% year on year
  • First-time buyers borrowed £1.1bn – up 29% on the first quarter and 17% on the same quarter in 2016
  • Home movers borrowed £1.5bn – up 39% quarter on quarter and 20% compared with 2016

The only downside in the numbers was the figure for remortgages.  It stood at £900m. Whilst this was a reduction of 7% on the previous quarter, it was also a 7% increase on the same quarter in 2016.

Carol Anderson, again: “With an economic climate of low interest rates, government schemes and competitive mortgage deals, the Scottish market is in a good position and open to business going forward.”