New figures from the Council of Mortgage Lenders in Scotland report that the number of first time buyers in Scotland rose to the largest annual total in four years.
Affordability has been a factor in the increase in purchasers for such buyers. Average lower house prices, for example, has allowed a number of purchasers to be exempt from paying Stamp Duty Land Tax. 62% of first time buyers bought a property for less than £125,000 compared to 39% in the UK in the fourth quarter.
2012 showed an additional 19,000 first time buyers, a rise of 13% compared to the previous year. On a quarterly basis, lending to first time buyers and those looking to remortgage also increased, while lending to home movers eased.
If your a first time buyer looking for conveyancing advice, click here.