Mortgage lack critical barrier warn builders

The difficulties in obtaining mortgage finance is undermining any recovery in the property market and wider economy, according to Scottish housebuilders.
Homes for Scotland’s members are responsible for building 95% of all new homes built for sale in Scotland, as well as a good proportion of the social housing.

Its chief executive Jonathan fair said that latest official figures on house prices would make it more difficult for first-time buyers to get a foothold on the property ladder and laid the blame with lenders and Westminster over what it believes are crippling mortgage rates.

“Mortgage lending is at a 10-year low. When is Westminster going to take positive action to stem a crisis of confidence that threatens tens of thousands of jobs across Scotland? The social and economic consequences of ignoring the housing crisis will be stark,” he said.

About Fiona Russell-Horne

Group Managing Editor across the BMJ portfolio.

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