Housing push

Published on 27/08/2012 00:00

Your comment (“Second step on housing ladder tougher than ever”, 25 August) on the Bank of Scotland highlighting the problem faced by home movers is but another among a deluge of private-sector related reports that fail to offer solutions.

In my firm’s experience, those moving within Scottish housing currently are achieving a lower price for their home but are also paying significantly less for their new home. It is largely a case of what you lose on the swings, you gain on the roundabout.

Our records show that a mere 10 per cent did not benefit from this principle when moving upmarket; 10 per cent of movers required to add funds to the profit they made from their sale and their mortgage to buy their new home; while 20 per cent purchased at around or less than their selling price.

It is interesting to note that within this 20 per cent, about half moved to larger properties than they were selling but in slightly lower-priced areas.

These lower-priced areas such as West Dumbarton and Inverclyde need to reverse their population decline, and here is an opportunity for them to do so. Their local services, commuter links and amenities stand comparison with more expensive areas. It would be of great service if these local councils and lenders made a determined and coherent effort to actively encourage these homeowners to relocate.

Not only would these new inhabitants find super environments, good quality housing and friendly neighbours, but also the financial strains of providing adequate housing to bring up their families would be reduced.

Graeme McCormick

Conveyancing Direct

The Salmond Chambers

Morrison Street, Glasgow