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Buy to let insurance customers 'look to Scotland for cheap property'
31 Aug 2010
House prices in Scotland are cheaper than elsewhere in the UK, though this is not uniform across the board, landlords and buy to let property insurance customers have been told.
David Marshall, business analyst for ESPC, which markets property in eastern and central Scotland, claimed that average prices were typically lower than in other parts of the UK.
Research from the Council of Mortgage Lenders (CML), meanwhile, revealed that, during the second quarter of 2010, house buyers in Scotland needed to use less of their income to cover mortgage interest than anywhere else in Britain.
"The country as a whole is currently benefiting from low interest rates and those who are already in a home and have a mortgage will benefit from lower repayments," Mr Marshall added.
He went on to say that Scotland had always been more affordable when compared with the rest of the UK, but warned that there are still some areas in which Scottish prices are "very much higher" than the British average.
Posted by Jonathan Walker
