The Rettie Blog

Existing owners, who through a change in personal circumstances are renting their properties in today’s market, seem very comfortable with the new rent controls. For these circumstantial landlords, the prospect of 6% annual rent increases has been widely accepted as very reasonable and agreeable.

Are you a first time buyer who's been struggling to save up for a deposit on your dream home? Skipton Building Society may have the solution for you. They've launched a new mortgage product designed specifically for first time buyers who are currently renting. With this product, eligible applicants can borrow up to 100% LTV without needing a deposit, as long as they can demonstrate a track record of paying rent and household bills consistently for at least 12 months within the last 18 months.

As we head into 2024 and reflect on the previous year we have had, there have been numerous highlights that are worth celebrating.

From Spring 2023 through to Autumn, demand for rental properties across Edinburgh and Glasgow far exceeded supply, leading to steep competition between tenants and double digit rent inflation. With the 3% rent cap remaining, combined with the rise in interest rates, landlords with vacant properties increased their rents more than in previous years.

Earlier this week, Rettie released a report on the existing housing need in Scotland.

Background – A New Deal for Tenants … The Government are moving forward with rent control proposals, this includes controlling rents in between tenancies so properties will never be able to revert to the market rate.

The Edinburgh housing market is witnessing unprecedented levels of demand for rental accommodation and, most worryingly, an unprecedented shortage of supply.

The roof on your home is important. This may seem like the understatement of the year, but for those of us living in Edinburgh's historic tenements, it is easy to forget your responsibility towards your roof.

The City of Edinburgh is already feeling the effects of climate change. Increasing levels of rainfall, higher wind speeds, and more extreme and unpredictable weather events pose a number of very real threats to historic buildings. Decaying stonework, mould growth, metal corrosion, and ground instability all affect a building's ability to withstand the effects of climate change, but simple steps such as clearing gutters and renewing paintwork can significantly improve the health of your property.

I attended the PropertyMark One event at the Ovo Arena Wembley in London last week and was on the sales agency panel to discuss how the market was performing. PropertyMark is the leading membership body for property agents across the UK and, with well over 1,000 attendees, it is the biggest single day event for property agents in the country.

For anyone wishing to buy a residential property in Scotland, we have created a short guide to help you understand the process. Conveyancing solicitors are often involved early in the process which helps to ensure both the buyer and seller are protected during the sale and to ensure both parties receive impartial advice.

Rettie were named Associate Member of the Year at the recent Homes for Scotland Annual Awards. Homes for Scotland is the membership and representative body of the residential development sector in Scotland. This award recognised Rettie’s work in supporting the building industry in Scotland over the past year and particularly emphasised: