Lack of mortgage finance impacting country house market in Scotland


A lack of mortgage finance is continuing to impact the country house market in Scotland, it has been noted.
Ran Morgan, head of the residential department at Knight Frank – which was founded as Knight Frank and Rutley in 1896 – explained this trend is resulting in many people north of the border opting against a move up the property ladder and are instead choosing to remain where they are.
His comments come in response to new findings from the organisation, which revealed prime house prices in the country dipped 0.9 per cent in the second quarter of this year – the fifth consecutive three-month period this has taken place.
It was demonstrated values have failed to move upwards in two years, with these levels dipping six per cent across the full period.
Mr Morgan observed: “However it is notable that homes with the wow factor are attracting attention, from domestic, London and overseas buyers alike.”
He added this highlights how the most attractive properties on the market are continuing to perform considerably better than those at the other end of the scale.

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