Cost of owning and running a home at record high
07 April 2012
he expense of owning and running a house in Scotland has risen to its highest level in over a decade, according to new research by Bank of Scotland.
Nitesh Patel, housing economist at Bank of Scotland, commented:
"The typical costs of owning and running a home in Scotland have increased over the past year even though interest rates remain at a historic low. This has happened because the substantial fall in mortgage payments over recent years has been more than offset by increases in most of the other costs associated with home ownership. The prospect of declining consumer price inflation through much of 2012 may help the costs associated with running a home to ease as well, providing some welcome relief to homeowners."