The Council of Mortgage Lenders recently published a breakdown of house purchase lending in Scotland during the first quarter of 2015.

The figures show that, on an unadjusted basis:

 

“Seasonal factors often affect lending levels in the first quarter of the year, but there are encouraging indicators in Scotland, as all lending types showed growth year-on-year,” commented Carol Anderson, CML Scotland chair. “2016 saw the strongest first quarter in a year for house purchase lending since 2008 and, with affordability conditions continuing to be favourable, we would expect gradual year-on-year growth in Scotland to continue throughout 2016.”

Another interesting trend recently identified in house purchase lending is the increased availability of building society mortgages to older borrowers.

According to a recent report by the Building Societies Association (BSA), more than half of building societies in the UK will now lend to borrowers up to or over the age of 80. These findings come seven months after the BSA published a report on the issues being faced by borrowers in their forties and fifties onwards.

The latest research shows that:

 

These changes are also starting to help parents and grandparents who want to act as a guarantor for their children or grandchildren if they struggle to get onto the housing ladder alone, the BSA says.

“Since November there has been a marked shift towards increased flexibility for older borrowers,” explained Paul Broadhead, Head of Mortgage Policy at the BSA. “This is coupled with a better understanding and careful management of the different risks that apply to this type of lending.” 

“I am pleased to see building societies leading the charge,” he added. “We are seeing innovation in the approach to underwriting and the development of processes better tailored to the specific circumstances of older borrowers.”

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