EDINBURGH
ABBEYI'IILI.
A/eroge price of property in 2005 ltenements) £80k (new builds; £130k
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I’m paid a pittance. How can I afford a mortgage? You could consider buying with a partner or friends. ‘One in two first time buyer mortgages are as a couple.’ says Paul Fincham ol Halifax/Bank of Scotland. “and the lender will take into account both incomes.‘ . Buying with friends is also an option and you can normally buy with up to tour friends. Traditionally. you can borrow two-and-a-half times joint income. or three times the biggest income plus one times the smaller income, though some lenders now offer more. Make sure that you have clear legal agreement drawn up. so that you can get out of jail tree should circumstances change. Seek independent legal advice.
There is also a low cost ownership scheme option called Homestake. which enables you to buy a portion of your home with an interest-free loan on the remainder. repayable when the property is sold. See communitiesscotlandgovuk for more.
INSIDER’S INSIGHT
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24 THE LIST 16-30 Mar 2006
POLITICIANS IMPROVING SOMETHING FOR A CHANGE
It is era/y to think that it took a building. which looks like it might he l‘alling to
pieces. to bring the attention ol‘ the property industry to this area ol‘ town. lloweyer'. when the Scottish Parliament was still a twinkle in Winnie liw'ing‘s eye.
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Ahheyhill land w'hateyer that hit is called before you get to l,eith) was l‘ull ol w'ell-
huilt tenements a stone‘s throw l'r'orn the centre ol‘ town. liaster Road has become the spine to a booming property district in lidinhurgh. with Leith at its loot and the Parliament at its head. The area just to the north of the Parliament. l’ormerly packed with small-scale industry and densely packed tenements. has henelited most. But the heart ol' this area is the northern end of liaster Road. which has a singularly uri-lidinhurgh \ ihrancy. llow'eyer. with the great healthy green acres ol‘ llolyrood Park on its doorstep as w ell. the area has a hig plus point over areas with similar lrotrse prices such as l)a|ry. making it perhaps more attractiye to a younger. ol‘ten first—time buyers.
EASTER ROAD
V A tenerrient llat szttraled near Lerth tanks. this is a sale t>et that ought It: retain its value. As the area continues Its; gtiprirlrrxitron. the location ‘.‘."|ll seem pertintl. ltulgetl lllf3l' ie. it is big where it neerls to be. and the two bedrooms are at opposite enrls of the flat. Fixed price £170,000
7o l.’.'<,“.'.. or intact URL/01M,“th Phi/r) 8 Ross, (2/37 533-1 (SQ-M
MONTGOMERY STREET
b Because it benefits from hugging the edge of the New Tox'xll. this handsome flat has a slightly higher rvice thar‘ rnigl‘t be (:on‘tortable. But it looks interesting because. as well as having three bedrooms splct over the ground and basement levels. there's a big ‘Ourth urtrenO‘.'at6Cl bedrOOrr‘: t'l the basement. Then the value woold rise eyen further. Offers over £205,000
To contact ‘./;'.lH. 073’ 622 2626
ABBEY LANE
A Yes. this big green monster is going to rlrvirle opinions. But it you think it's a landrrrark rather than a carbuncle. checkout its fifth floor apartment With two double bedrooms and Views to murder for. It has French doors onto a roof terrace overlooking Arthur's Seat. Fixed price £174,995
To View. contact L/nts Property, 0737 .555 299’)