The property solicitor, whose firm is one of five leading members in the Edinburgh & Lothians Property Group, said that the falling numbers of approved mortgages in Scotland was a blow for the housing market – although he added that it was no surprise considering the recent banking collapse.
Les argued that without mortgage finance, property was unlikely to move as is would be “like an engine without oil”. However, he also said that there had been a recent increase in mortgage approvals in the past three weeks, which he hoped would bring confidence back to Scotland’s housing market.
The ELPG group consists of five of the leading property solicitors in Edinburgh – Warners, Neilsons, Leslie Deans & Co, the Lints Partnership and Drummond Miller – and is reponsible for 26% of all property sales in the ESPC.
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