Please find below all of the latest news relating to RE/MAX Scotland and the Scottish property market.
December 2008
Christmas Message
On behalf of all our Office Owners, Associates and staff, we would like to thank all of you - our valued clients - for your patronage, it has been our pleasure to help you fulfil your dreams and we extend to you and your loved ones - a very Merry Christmas and a Happy New Year!
Reg MacDonald
Regional Director
Monthly Newsletter - Our monthly newsletter with updates on the housing market, mortgages and the RE/MAX network across Scotland is now available to view here.
Interest rates - The Bank of England has today announced another cut in interest rates in the UK from 3% to 2%, there lowest rate since 1951.
Home reports - As of 1st December, Home Reports are now a legal requirement for most properties across Scotland. Click here to see how RE/MAX Scotland can help you.
November 2008
Ombudsman for Estate Agents - From Oct 1st 2008 a change in legislation requires all estate agents to apply for membership to an approved redress scheme. We at RE/MAX Scotland fully embrace change and as a result have ensured that our members also fully sign up to the OEA code of practices as approved by the Office of Fair Trading. Please click here to read more.
Home Reports - Property transactions as we know them will change fundamentally from December 1st 2008. New legislation introduced in Scotland will require that with few exceptions, properties marketed for sale will require a home report. Please click here to read more.
Interest rates - The Bank of England has cut interest rates in the UK by one-and-a-half percentage points to 3%, its lowest since 1955, in a shock move.
Last month it cut rates from 5% to 4.5% in an emergency move co-ordinated with other central banks. There had been widespread calls from industry for a major cut. It is the most dramatic cut since a two percentage point reduction in 1981. The move has been broadly welcomed by business bodies and trade unions. Richard Lambert, CBI director-general, said "This is a bold and welcome move by the Monetary Policy Committee, and achieves what the CBI had been calling for." He added: "This cut... should help to ease conditions in the credit markets, and allow banks to pass the benefits on to their customers."
Meanwhile, the Institute of Directors said interest rates could touch record lows of 2% or less by this time next year.
October 2008
Financial Good News - The UK government has announced a package of measures aimed at rescuing the banking system that
makes available £400bn ($692bn) of fresh money.
Interest rate slashed - Mortgage providers have been dropping the cost of their home loans following the emergency cut in UK
interest rates. Good news for borrowers and savers alike. For borrowers - the Bank of England have cut the base rate by 0.5% and this should
be seen as a good move to reinvigorate the housing market as we see lenders reflect the cut in their pricing.
Already Lloyds TSB, C&G, HBOS and Barclays have announced they will be passing on the rate cut. On top of this the Government’s decision to
guarantee £250B of interbank lending should see more mortgage deals becoming available. The outlook is definitely looking rosier but in the meantime there are still good deals available.
Homes for Scotland & Ombudsman Scheme - We are delighted to inform you that RE/MAX Scotland is now an Associate Member of Homes for Scotland. We’d also like to congratulate our offices on registering with the UK Ombudsman Scheme for Estate Agents. Full details about the UK
Ombudsman Scheme for Estate Agents can be found at http://www.oea.co.uk/
Radio advertising award - RE/MAX Scotland was recently presented with a plaque by Radio Clyde to celebrate RE/MAX Scotland being one of
the top 20 advertisers on radio in 2007/08. Pictured below are Victoria Paterson of Radio Clyde along with Reg MacDonald and Mary Percy receiving the award.
