Scottish property market starting to feel the pinch?

Scottish first-time buyers may be left in a negative equity position if they try and rush onto the housing ladder, if one organisation is to be believed. has claimed that first-time buyers should adopt a ‘wait and see’ approach to house buying, in that they should gauge the developments in the market before they make a purchase. Peter Beckett, business development director of the company, said: “If you rush into something now, you could find yourself in a negative equity position, having borrowed in order to be able to afford to secure the property in the first place.” Mr Beckett suggested taking out a loan within the family, using savings or inheritance as advisable ways of funding a first property. In addition, he suggested making the commitment in conjunction with someone else in order to ease the burden. Meanwhile, research from has revealed that one in three first-time buyers are gambling on their house purchases by taking out unsecured loans and using credit cards for deposits.