Mortgages Most Affordable in Scotland

According to the latest report by the Bank of Scotland, mortgage payments in the country hit the highest level of affordability in Q4 2011.

As such, an average mortgage payment in Scotland amounted to 20% in proportion to households earnings in the end of last year. Meanwhile, the national average is 27%.

The most affordable mortgage payments were registered in East Ayrshire (15.7%), followed by Dunbartonshire and North Ayrshire, where this figure stood at 16.2%.

The highest mortgage payments in Scotland were very close to the Britain's average and were registered in Edinburgh (26.2%).

Commenting on the findings of the Bank of Scotland, Mr. Boyle of Rettie & Co, said: "Housing affordability in Scotland has been boosted... However, the high level of deposit required and restrictions on lending is making it difficult for people to get on the housing ladder."

The Bank of Scotland experts expect the current market trends to continue into 2012.