Edinburgh Mortgage Advice in the press this month

This month has been a good month for us getting our news and views out there, here is a selection of what we said.

CML Scottish Lending Numbers 25/11

A good set of numbers, but really more evidence of a lack of volume stopping anything more than a small upturn happening. Here in trade press Mortgage Introducer we comment on the latest numbers


House Repossession Stats released 10/11

Our comments were picked up in 2 consumer titles and one of the mortgage trade press. The story was that repossessions were low, but our point was let’s not get complacent as rates are so low right now that as they swing up it will drag more people into trouble.




Daily Express 08/11

HOUSE PRICES SURGE AGAIN; Values rise as demand soars
By Sarah O’Grady and Paul Gilbride; Sarah O’Grady ; Paul Gilbride 2011 Express Newspapers

HOUSE prices soared by an average of £2,000 last month as the property market defied gloomy predictions to show a welcome recovery.

And in a double dose of good news for homeowners, record low interest rates underpinning cheap mortgages sparked a surge in demand and sales as confidence returned. House prices rose by 1.2 per cent in October, pushing the value of a typical British home to £163, 311 – up £62 a day in four weeks, leaving prices now higher than at the end of 2010.

The surprise lift bodes well for the strength of the market as it continues to weather the economic storm, says Britain’s biggest mortgage lender, Halifax. Halifax housing economist Martin Ellis said the prospect of low interest rates continued to support the market.

“The housing market has proved highly resilient in recent months despite the weak economic recovery and the deterioration in the outlook for both the UK global economies.” As well as a rise in average prices across the UK, the market also saw an increase in
activity last month as more surveyors reported that newly agreed sales were on
the rise rather than falling in October, according to the Royal Institution of
Chartered Surveyors (RICS).

RICS said some surveyors put the rise in sales down to a more “realistic” attitude among sellers, who are more willing to take offers to secure a sale. Completed sales rose to an average of 15 per branch of surveyor over the past three months, the strongest level since

New buyer inquiries, a good indicator of buyer demand, edged up as well, while new instructions, an indicator of supply, also increased.

The situation could be even better in Scotland.

Some sellers here are still shying away from putting their homes on the market although the number of buyers asking about property was almost unchanged.

Mark Dyason, director of Edinburgh Mortgage Advice, said: “The fact is that over the medium and long term, property is a solid investment – particularly compared with the stock market. “There have been some big fluctuations in recent years, but historically bricks and mortar has always been a safe place to put money.

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