Scotland is the 'best place to buy property'

Landlords may be looking to the deals that could be had in Scotland, if recent statistics are anything to go by. That's because towns and cities north of the border are home to the UK's most affordable housing, Bank of Scotland revealed this week (January 16th).

Mortgage payments for new borrowers in Scotland through the second half of 2011 cost the lowest proportion of disposable earnings for nine years, according to new research from the organisation. It means that people are given a bit more room for movement with home improvements, utility bills and buy-to-let insurance requirements.

Typical mortgage payments for both first-time buyers and homemovers on a long-term average loan-to-value ratio were 20 per cent of disposable earnings in the fourth quarter of 2011; the average over the last 27 years is 30 per cent.

On top of this, seven out of ten of the most affordable local authority districts in the UK are based in and around Scotland. East Ayrshire was named the most affordable local authority district in all of the UK, as typical mortgage payments were just 15.7 per cent of average local earnings. West Dunbartonshire and North Ayrshire were second and third with 16.2 per cent each.