Yes vote could create mortgage drought

The Guardian reports that borrowers in Scotland face a mortgage drought if next week's referendum backs a split from the rest of the UK. It says that major lenders are thought to be preparing to restrict lending in the event of a Yes vote amid concerns over the currency that an independent Scotland would use and the outlook for house prices. One industry insider tells the paper that there have been signs that the market for homes worth more than £600,000 in Scotland is drying up in the run-up to the vote, while in the commercial property arena deals are being put on hold until the vote was known – and could be abandoned in the event of a Yes vote. Elsewhere, the Daily Telegraph cites a Which? report that found Scotland to have a larger burden of mortgage debt than England and fewer citizens who fully own their homes, and reveals that a surge in customers contacting finance firms over Yes vote fears has been registered.