Market increases in confidence
CONFIDENCE in the local property market has jumped with increasing proper ty prices, improved mortgage lending and the Government’s decision to lift the stamp duty threshold for first-time buyers to £250,000.
Michael Luck, managing director of estate agent Slater Hogg and Howison, said: “ Key economic drivers are helping more people invest in property. Lenders are approving more mortgages and first-time buyers could save £2500 in stamp duty.
“ We’re speaking to a growing number of parents who want to use some of the equity in their homes as a deposit to enable their children to take advantage of the lowest interest rates available.
“We’re also using exclusive mortgage products to help local home movers make their next step up the property ladder before house prices increase any further.”
The buy-to-let market has also hit new highs with thousands of people still opting to rent, which is increasing rental values.
Recent research from the UK’s largest letting agent has revealed that more than four tenants are competing for every rental property, and an industry survey among mortgage professionals has shown that the buy-to-let market is viewed as having good prospects this year.
Michael said: “Buy-to-let isn’t simply reserved for professional investors – quite the opposite, as we’ve helped parents buy for their children, and our latest exclusive mortgage allows up to four applicants per mortgage application.
“This is ideal for anyone looking to jointly own a property as a longterm investment. You can split the deposit four ways and stay ahead of the curve before property prices creep upwards.”
To coincide with this news, the company's mortgage division has unveiled a range of exclusive mortgage products for local home movers and buy-to-let customers.
Information on mortgage products and Government home ownership housing schemes is available through the company’s offices across Scotland. Visit http://www. slaterhogg.co.uk THIS gorgeous fresh quilted Regal Rose bespread, with pink rose bouquets on a white background on one side and a blue and white spot print on the other, is by Cath Kidston and costs £135 from John Lewis. Matching pillowcases cost £25 each. www.johnlewis.com