Buying in Scotland

I enjoy your website and the articles for landlords. Have you though considered the advantages of landlords buying Scottish flats (I do this despite now living back in England). They are all heritable (ie. freehold), no diminishing leases and no service charge. Instead the owners share the cost of repairs failing which the council steps in.

When you buy a property the seller's solicitor retains up to 5k to cover unpaid statutory notice repairs and if a new property doesn't have working plumping, electricity and (if the contract allows) white goods, the seller's solicitor will pay compensation from the retention. All very good (at least as a buyer).

There's no gazumping, prices are determined by a binding sealed-bid ("offers over x" to be submitted by [date]). Solicitors act as estate agents and although barely competent as sales people at least they offer a modicum of honesty and are regulated by the Scottish Law Society,

Edinburgh and Aberdeen are good rental markets, together with some parts of Glasgow. All in all very good investments. Different law though and therefore different (but similar) possession proceedings and tenancy types. Plus for Edinburgh there's a 5 to 6 week Festival period when weekly lets can rake in a small fortune.

All the best

John

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