All the ups and downs
There’s good news on the mortgage front but the Brexit vote causes a dip in buyers’ confidence
NEWS that Santander is to offer Legal & General Lifetime Mortgages will be good news for existing customers who may be facing a shortfall in repaying an interest-only mortgage, particularly as customers who choose the lifetime mortgage option will not be charged valuation or arrangement fees. The partnership will also help raise more awareness of equity release as an option – and, according to Richard Eagling at Moneyfacts, could well signal the start of its move into the mainstream. “We would expect other high street banks to follow Santander’s lead by either developing their own equity release propositions or teaming up with existing established providers,” he said.
Brexit vote causes dip
RICS says Brexit uncertainty fuelled a marked drop in activity in the Scottish housing market during June, with new buyer enquiries declining and a fall in new instructions.
Although Scottish house prices continue to rise for the time being, short-term expectations have turned downbeat, with 23 per cent more surveyors predicting a drop in house prices over the next three months.
Commenting on the results, Eric Curran, of DM Hall Chartered Surveyors, said: “Uncertainty, confusion and confidence issues have increased on the back of Brexit but as there still remains a limited supply of property in many areas, Brexit may prevent overheating of the more desirable locations.”
New director for sales
SAVILLS has appointed Natalie Simpson as director of its Residential Development sales team to drive the business forward in Edinburgh and the East of Scotland. Natalie has 20 years experience in the Edinburgh property market having formerly been head of sales and marketing with the Burrell Company and more recently, as managing director of David Phillips Furniture Scotland.
SAVILLS POST: Natalie Simpson is the company’s new sales team director. The perfect project?
LOOKING for a building project? South Lodge, situated on the Old Luss Road near Balloch, is crying out to be loved. Presently uninhabitable and requiring complete modernisation, the upside to this undeniably attractive stone-built period lodge is it comes with planning permission to renovate and extend. Close to Cameron House and Loch Lomond, it could make a superb main or second character home – details from Pagan Osborne in St Andrews, which is asking for offers over £165,000.
GLASGOW residents will have the chance to see round one of Scotland’s most inspirational ‘green’ homes this coming Saturday when Bearsden residents Heather and Michael Gillan open their doors to the public as part of a series of Green Designs events. These are taking place across Scotland to showcase properties on the Green Homes Network, managed by the Energy Saving Trust.
Homes taking part include sustainable new builds, one-off eco homes and historic properties that have been modernised using green technology. Complementary technolo- gies under the spotlight at the Gillans’ 1930s bungalow, range from electricity generating photovoltaic solar panels and electric cars (visitors will have the chance on the day to test drive a Nissan Leaf electric car), to enhanced insulation and smarter heating systems. The Gillans’ home will be open to visitors from 10am to 3pm. For details visit greenhomesopendays.org.uk
A POTENTIAL PROJECT: South Lodge is located on the Old Luss Road near Balloch.
GREEN DESIGNS: Visitors to the Gillans’ home can see the eco technology at work.