Gap in market
My firm’s experience of acting for hundreds of first-time buyers over the past year suggests that they can afford and purchase houses in the £60,000 to £120,000 price range, and the variety of property available throughout Scotland more than satisfies their requirements.
While all the various initiatives supported by the Scottish Government to help buyers of new homes are to be welcomed, there is a yawning gap in the lack of support for buyers of established affordable properties. By using the current willingness of sellers to sell well below market value, the Scottish Government could support many more thousands of first-time buyers with minimum risk indemnities on properties up to £120,000.
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Hide AdSuch an approach would have a transformational effect on the whole housing market, driving further purchases and sales up the housing ladder and allowing the myriad of housing-related services to blossom.
Graeme McCormick
Conveyancing Direct
Morrison Street
Glasgow