Addressing delegates at the Council of Mortgage Lenders (CML) Scotland's annual lunch in Edinburgh, Crawford McCaughie, CML Scotland's incoming chairman, said:
"I am delighted to take the chair of CML Scotland in what is shaping up to be another busy and exciting year for the housing and mortgage markets. Not surprisingly the single survey scheme remains high on the agenda with the Scottish Executive having recently published its detailed proposals for the content of the single survey. The CML believes the timing for introducing the single survey is vital, and urges the Scottish Executive to consider a quiet period in the housing market to ensure a smooth transition to the new scheme and minimal market disruption.
"While measures of affordability for homeowners remain better in Scotland than elsewhere in the UK they are nevertheless at record high levels, demonstrating that first-time buyers are prepared to stretch their finances further than ever before to get a foot on the property ladder. Mortgage lenders already offer a range of innovative products to help people buy their first home, but more can be done and it is essential that the Scottish Executive works with the private sector, local authorities and the social rented sector to increase the supply of affordable housing as this will ultimately deliver important benefits to the Scottish economy."
