News

The Scottish property market continues to buck wider UK housing market trends again this month as ESPC reports an increase in properties brought to market and the average selling price of homes across east-central Scotland compared to last year.

Kerry Wells, Estate Agency Manager at Boyd Legal

Market sees over 37,000 new customers as total lending in 2017 reaches £3.06bnQ4 2017 marks historic end to year with record lending of £838m and a milestone of over 10,000 new customers for the first timeAcross 2017, the sector supported almost 67,000 customers seeking to unlock part of their housing wealth to manage their finances in later lifeDrawdown products remain the most common type of new product, favoured by 75% of new customers in Q4 2017Fewer customers make additional drawdowns or seek further advances compared with Q3

A record quarter for equity release activity in Q4 2017 pushed annual lending growth in the sector to its highest level since 2002, according to year-end lending figures¹ from Equity Release Council (The Council).  As a result, the total amount of housing wealth unlocked by over-55 homeowners reached £3.06bn in 2017 – the first time it has exceeded £3bn in a single year.

The ESPC have awarded Boyd Legal for providing the best customer service out of all the 140 solicitor and estate agents in the ESPC.