Monday, 1 September 2008

Maxwell's House.

"BANKS should treat Scottish customers more favourably than their English counterparts because the housing market in Scotland is more resilient, the SNP housing minister has said. Stewart Maxwell said he would "encourage" any moves by mortgage lenders to take into account the fact Scotland's housing market has not been hit as hard by the credit crunch as England."

Mr Smith thinks this is little more than the latest attempt by the SNP Scottish Government to stoke up a bit of tension between Scotland and the rest of the UK.

Wouldn't it be great to get a better deal on mortgages in Scotland than in the rest of the UK, but the main reason why we can't is buried in the article.

"But leading industry body, the Council of Mortgage Lenders (CML), rejected the idea, saying that a lack of liquidity in the banking sector was the main reason that mortgage criteria have been tightened up."

Even if Scotland was independent it is unlikely that that position would change.

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