Help buy-to-let, RBS urged

by Rachel Crook

Buy-to-let investors should be prioritised by the extra mortgage lending that the Royal Bank of Scotland (RBS) has announced for the Scottish property market, it has been argued.

Commenting on news that RBS is to lend an extra £1.7 billion in mortgages in Scotland over the course of this year and 2010, finance website argued that the lender should not be "dishing out cash on a first come first serve basis".

Instead, it suggested groups like buy-to-let investors and first-time buyers, who are often struggling to raise deposits, should be prioritised.

The bank announced the move after being bailed out with government cash, with a condition of the funding being that it continues to lend to individuals and businesses.

Chief executive of consumer banking for RBS Paul Geddes said the news showed that RBS is "more than ever, open for mortgage business" in Scotland.

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Published on: March 11, 2009

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