'Now is the time' to buy a new house

It has been claimed that now is an ideal time to purchase a new property, which may be good news for househunters looking to buy a house in Scotland.

Despite concerns in the housing market over increasingly stringent lending, Persimmon housebuilding group has argued that potential buyers can use this to their advantage.

Bob Neil, director at Mortgage Bureau, has been cited by the firm in his explanation of this claim. He said: "Contrary to reports, there are still attractive mortgage deals available however you do need to move quickly to get them.

"This news, coupled with the fact that the Bank of England has reduced the interest rate by 0.25 per cent to five per cent, should come as a sigh of relief for anyone considering buying for the first time or those looking to make the next move up the property ladder."

Anita Williams, Persimmon’s sales and marketing director, agreed with this statement, adding that it is a buyer’s market since properties are priced competitively.

A Royal Institute of Chartered Surveyors survey carried out last month revealed that house prices reached a historical low in March, something that may have impacted on Scottish property prices.