|
<p>Together, England, Wales, Scotland and Northern Ireland enjoy low borrowing costs. If Scotland became an independent country, the continuing UK's borrowing costs would not be expected to change. The National Institute of Economic and Social Research have estimated that Scotland's borrowing costs would rise following independence, between 0.7 and 1.65 percentage points above UK borrowing costs. (Independence would likely lead to an increase in funding costs for mortgage lenders. A 1% cent rise in effective mortgage rates would equate to £1,300 on the typical Scottish mortgage).</p> |