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Mortgage repayments have fallen by more than two-fifths in Scotland when taken as a proportion of income

 

Scotland is best place to get a mortgage

Scotland is best place to get a mortgage

Mortgage payments have fallen from a peak of 38% in last quarter of 2007 to just 22% in the final quarter of 2012, according to research conducted by Bank of Scotland.

Lower residential property prices and reduced mortgage rates have been the main driving force behind the significant improvement in affordability.

The average monthly take-home wage in Scotland is £1,954 (GBP) while the average monthly mortgage payment is just £424 (GBP).

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