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Scottish home reports attract the wrath of the industry

A number of influential Scottish industrial groups have heavily criticised the introduction of a new home reports requirement which comes into effect today. Much like the English counterpart, the report will cost £800 and be the responsibility of the selling party at a time when funds are thin on the ground to say the least. The idea behind the reports is to cut the cost to buyers who may look at a number of properties and require reports on each one which they have had to finance themselves in the past.

The Scottish Law Agent Society has claimed that the home reports will be as hated as the poll tax was in the 1980s, which eventually led to the demise of Tory leader Margaret Thatcher. While such a comparison may be a little on the emotive side there is no doubt buyers will struggle to fund these reports prior to even selling the property.

As with the UK counterpart, there is again concern that mortgage lenders will not accept the seller's report and will instead require their own survey which will be done at the cost of the buyer. It is somewhat surprising that the SNP government has seemingly not learnt anything from the UK government's experience of a similar strategy.

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