The Registers of Scotland – where every Scottish house transaction is recorded – state that prices have gone up in the third quarter (July to September) by 6.1% from the second quarter.  That leaves the average price of a residential property in Scotland at £154,453.  The national average figures of course disguise significant regional variations, and in six local authority regions prices were still shown to be falling.  The biggest rise was in Perth and Kinross at 15% and the biggest loss was in Renfrewshire with a loss of 3.7%.

The picture therefore remains very mixed but at least after two years of bad news clearly there are some signs of a market returning to health.   Solicitors and estate agents, however report that trading volumes are still down and this is confirmed by the Registers who state that five thousand less house transactions took place in the third quarter this year compared with 2008.

Kirsty Jack, Property Manager at Caesar and Howie and who works closely with the Kupdom Project states “There are clearly some positive signs but our sales volumes remain at about half the level of two years ago.  I would say however that there are many people who would wish to buy but who still cannot get mortgage finance.  The house buying culture is still strong in Scotland and as the financial world slowly returns to normal I predict a slow improvement in prices and sales volumes over the next few years.  People buying a house now, I think will look back in a few years and think they have got a bargain”.

Whitburn Miner’s Welfare was the latest stop off for the Caesar and Howie Senior Issues Roadshow.  The Scottish Pensions Association hosted the annual meeting of their Whitburn branch and invited the Caesar and Howie team of Terry Ann O’Donnell and Lesley Cunningham to address the gathering.

Terry Ann’s presentation on “Family Care – The Three Legal Documents You Must Sign” was listened to attentively by an audience of between 60 and 70.  As usual Terry Ann’s presentation on the legal issues, folk must deal with to care for their families properly, raised a lot of interest and stimulated lively debate – including what can happen to families if one of their number becomes incapacitated.

One lady from the floor explained how she hadn’t really thought much about getting a Power of Attorney done but she had taken a lawyers advice and done one as had her husband.  “It turned out to be the best thing I ever did as unforeseen circumstances did hit the family and having a Power of Attorney in place was a godsend”

A question and answer session followed with lots of interesting points being discussed.  Caesar and Howie partner Lesley Cunningham commented “I love these nights. Everyone is so interested in what we discuss and talk about being lively – these groups can wear you out!  You need to be on the ball too – because many in the audience are very much on the ball – but that just adds to the fun of the evening.”

If you want Caesar and Howie to deliver this FREE seminar to your group, please contact Sandra Pimbley on 01506 815913.

The Act was passed after some controversy and opposition from certain groups including the Church of Scotland and the Catholic Church although it was supported by a number of adoption bodies who believe it will increase the number of potential parents capable of adopting.  Under this legislation couples living in “an enduring family relationship” whether heterosexual or homosexual will be entitled to apply to adopt.  The capability of applying for adoption will not require parties in a gay or lesbian relationship to be civil partners.   Church groups have described gay relationships as “profoundly unstable” but the act seeks to address that by comparing the relationship between the parties to be “as if” they were married or civil partners.

Whether the controversy surrounding the passage of the act spills over into subsequent practical cases remains to be seen.   The Act does however represent a significant overhaul of Adoption law with most of the 1978 Adoption act repealed.  A completely new “Permanence Order” is introduced for children who cannot live with their families.  Under such an order the Local authority may be granted parental rights and responsibilities over residence and guidance with other parties including the child’s parents being granted other responsibilities.  The authorities believe this will provide a more flexible framework for some children.

Martin Monaghan, accredited family law expert at Caesar and Howie believes the act significantly modernizes adoption law “There are improvements here, notably the provision of better adoption support and I can see the relevance of Permanence Orders. As to the politics of this Act – it is not for me to comment.  Come back in a couple of years and I’ll let you know if same sex adoption has become commonplace”

Three issues have favoured buyers in this category.  First there has been a ready supply of first time buyer properties, mostly flats, with sellers anxious to sell and willing to do a deal on price.  Secondly the LIFT mortgage programme solved the funding problem for many first timers – with the government though housing associations – effectively providing and interest fee loan for the deposit.  Thirdly the stamp duty “holiday” granted by the chancellor cut the cost of buying flats at the entry level to the market.  All in all for the last several months first timers have had things pretty well there own way.

All good things must come to an end as they say and the signs are first timers are not going to enjoy these advantages going forward.  Kirsty Jack senior property manager at Caesar and Howie has noticed prices firming up in the flat market.  “Sellers have quickly reacted to the increase activity in flat sales, with less now desperate to do a deal at any price – in fact some closing dates are even creeping back in with there being more buyers around”

On the mortgage and stamp duty issue things are changing a little for the worse.  Sandy McFarlane long time mortgage advisor at Caesar and Howie warns “ I think the ready supply of Lift funds is beginning to run out in some parts of the country – especially in the Lothians.  With that and the Stamp Duty holiday ending in December I would say first time buyers need to move now to take advantage of Lift and not having to pay stamp duty.   These benefits are not going to be around much longer – so first timers need to  move now to make the most of them whilst they last”

Research from the Institute for Financial Studies commissioned by Age Concern and Help the Aged shows that non-pensioners increased their spending on communications technology at two and a half times the rate of pensioners in the past twelve years.

This comes on the back of new research from the Office for National Statistics revealing that more than 64% of people over 65 have never used the internet .

Pensioners who aren’t online are missing out on hundreds of pounds in potential savings by shopping around and can also often miss out on the best interest rates for savings accounts….

Read the full story at Age Concern

Managing Partner David Borrowman reports “we are now beginning to see the increased viewing levels of four months ago turning into actual offers and sales.

Whereas in the last six months of last year our transaction numbers were down to 30% of normal levels they are now back up to 60% and look to go even higher in the coming months.”

There are two principal factors helping the recovery – the first is the increasing availability of mortgages.   Sandy MacFarlane Caesar and Howie’s most experienced mortgage advisor comments “Whilst mortgages are still a little tight to get – they can at least be got now – whereas at the end of last year there was virtually a moratorium on mortgages.  Also the Lift mortgage initiative has also helped bring first time buyers back into the market for the first time in nearly two years.   That’s a big change and of course every time first time buyer snaps up a property the person that sold that property usually buys another – so the whole market is stimulated.  To be honest I have never been this busy in years – and it is mostly with Lift mortgage applicants.”

The flexibility of the Lift scheme is another benefit continues Sandy.  “Some buyers think that you can only buy houses built by Housing Associations – but that is a complete misconception.  You can of course buy from an Association but you can buy on the second hand market too and you can even buy a new property from a private builder – so all areas of the market are covered by the scheme”

Another feature which is helping the market move forward is a new realism in the approach of sellers to setting prices.   Property Valuer John Renton has noticed a distinct change here. “When the recession first struck, the property market pretty well seized up.  At first sellers did not respond to the new conditions and kept trying to price their property as if a boom was still on” says John.   “But at last things have changed and most sellers are realising that it is the keenly priced properties which are shifting, and prices have of course gone down in the last 18 months.  If you are buying on, of course the house you buy will have gone down too – and folk in the market are beginning to respond to that.  As well as that there is no doubt there are some bargains to be had out there”

The experience of Caesar and Howie seems to be shared elsewhere and whilst it is never safe to predict too much in the property world the consensus among the professionals seems to be that the worst is over.

Experienced mortgage broker Sandy McFarlane of Caesar and Howie comments – “I have never been busier on the mortgage front – mostly with LIFT cases. We have learned everything there is to know about LIFT mortgages and provided you know and understand the criteria you can access LIFT funds as a deposit for first time buyers. This will help meet the continuing demand for young couples in particular to get on to the housing ladder”

The scheme which is operated through housing associations effectively means you are gifted a percentage of the purchase price as a deposit – provided on a future sale the same percentage is repaid. But with no interest payable this is an attractive proposition for many first time buyers who might struggle to save up the deposits now required by lenders.

There is a price limitation however – as the scheme is intended to stimulate the first time buyer sector of the market. Experienced property consultant at Caesar and Howie Vivienne Malcolm explains that the limits can sometimes be restrictive but do work. “The key thing is to know the price range in your local area – you can get these on the LIFT section of the Caesar and Howie website. Once you know the range you can concentrate on finding a property within it – and with lots of properties going under the asking price you would be surprised what can be bought under the scheme. And another benefit is that the scheme covers second hand and new properties – and some developers with the reduced prices they are seeking – have available new properties which qualify. I think with sellers willing to do deals – it can be win win for some first time buyers using the LIFT scheme.”

With sixty million pounds available to be lent under the scheme maybe up to 2000 purchases could be carried out using these funds. Managing partner David Borrowman comments “This is clearly a help to the market at this time – it has been the lack of first time buyers over the last 18 months which has slowed things down. If this group were to get buying again it would get everything moving since the sellers to this group would presumably also purchase.”

To find out more please contact 0845 855 4411.

David Borrowman managing partner explains “We take the long view of everything we try to do. It is very easy to be affected by the advocates of doom and gloom, but we are not and we are completely confident about the future. At the moment only conveyancing and estate agency of the various services we provide are a bit slow. Every other part of our business is continuing to grow even in recession and we are certain that the property market will turn round soon as well. Even now – we are selling properties steadily for clients. Sales will be achieved if clients price their properties sensibly and are patient. In the last two years we have opened new offices in Dalkeith and Alloa and these have been very successful – Musselburgh just adds an extra outlet to offer more services to more clients”

Local manager Colin Weatherup shares the firm’s confidence. “I have worked in the property market in this area for some time now and I am delighted to be working with Caesar and Howie. The firm’s methods and thinking are spot on, and if I can provide some local knowledge I feel we have a really good new offering to the people of Musselburgh.”

The office opening hours are 9am until 5pm and there are some good opening “deals” available to new clients.

If you require any further information please contact David Borrowman, Managing Partner, 01506 815900.

Members of the Firm’s Senior Issues team Terry O’Donnell and Suzanne Borrowman manned an information stall at the event and discussed legal matters of interest with delegates direct.  Managing partner David Borrowman made a keynote speech to the conference on the value of planning ahead to prepare for adverse life events.  Mr Borrowman explained to conference delegates what legal steps individuals could and should take to maximise the care of their family members should adverse life events occur.

The well attended conference heard some stimulating debate on various issues affecting senior citizens The conference’s other guest speaker, Tommy Sheridan, lambasted politicians for not improving the financial position of pensioners – a stance which met wide approval from the floor of the conference.

Mr Borrowman comments. “This legislation is badly thought out, provides no benefit I can see to anyone, and effectively acts like a great big tax on selling your house.  For example on a flat worth around £105, 000 a seller could have to pay nearly £600 before even putting the property on the market then maybe another £180 or so to update the report when a  sale is actually achieved – with much higher fees for higher value properties.  To lump this extra cost on to sellers in a slow property market is simply daft in my view. ”

Mr Borrowman’s letter sparked some press, radio and TV interest, with BBC staff descending on Caesar and Howie’s offices to obtain an interview for the Scotland Today news programme.

“I’ve seen the comments the Minister for Housing and Communities made in response to my letter but I’m afraid I am totally unimpressed.  Sellers hate these reports, hate having to pay for them and worse than all of that I don’t think purchasers are going to trust them either.  We have done a deal with a large surveying firm to ensure that Home Reports obtained through Caesar and Howie are probably the cheapest on the market but still I think this is all an unnecessary expense.

I don’t see why Home Reports could not be voluntary – if a seller wanted to get one that’s fine, but to force them to get one at a cost of hundreds of pounds with a further fine of £500 if you don’t get one is quite ridiculous in my view.  But the Minister for Housing and Communities minister doesn’t agree – he thinks it is good that sellers have to pay all this money and right for them to be fined if they can’t or won’t pay for a report. I sometimes wonder if the Scottish Government cares much about ordinary Scottish folk”