Strutt & Parker has become the first British agency to show its hand on the Scottish independence issue, claiming that a Yes vote would lead to higher mortgage rates and dampened house prices.
The agency - which is arguably best known primarily for its country houses, but which also has extensive land and estate management functions - says it backs the view of credit rating agencies in saying that an independent Scotland would have a financial status below the UK's current rating.
The agency claims that rises in bank interest rates would occur should Scotland choose not to accept its share of the national debt, potentially leading to an increase of £5,200 per annum on the average mortgage - a more detailed version of the argument recently put forward by former Labour chancellor Alistair Darling on TV debates against the SNP leader Alex Salmond.
Strutts say the uncertainty over currency means that it is difficult to predict exactly what mortgage lenders would do with existing Scottish customers. It claims these uncertainties around currency and credit risk could deter buyers from entering the market and result in a significant effect on house prices, mostly likely driving them down north of the border.
Farmland and rural businesses will be affected if Scotland is no longer part of the EU.
Strutt & Parker says that according to DEFRA, Scotland receives about 600 million a year in CAP direct payments and rural development payments, and if lost this could have significant implication for Scottish farmers.
However, if under independence Scotland does become a member of the EU and receives CAP payments it could be better off with farmers receiving 196 per hectare compared to the 130 at present.
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Comments
This is so one sided, can the rest of the UK not have a vote as to if we have to keep them