The current offers over pricing system in Scotland’s private housing sector unfairly penalises buyers, particularly lower income earners and first time buyers already struggling to save deposits making it increasingly difficult for them to enter the housing market.
Already faced with the task of saving for a deposit these groups now face an additional financial barrier due to the offers over system, where properties sell for more than the valuation meaning buyers must also finance the difference between the actual valued and sold price.  

In this system, properties often sell for significantly more than the home report valuation. Lenders, however, typically base their lending limits on this home report value, compelling buyers to cover any shortfall between the valuation and the eventual selling price. For many buyers, including young people and those on lower incomes, this additional financial burden is insurmountable, effectively locking them out of homeownership.

According to the Scottish Government, around 60% of first-time buyers are under the age of 35, a demographic already struggling with financial pressures such as student debt and unprecedented living costs. With house prices in Scotland rising by nearly 25% over the past five years, the current offers over system becomes yet another hurdle, often resulting in promising young buyers and families being priced out of the market.

The current system not only reinforces economic inequality but also creates an unstable and unsustainable housing market in the long term. As more individuals struggle to afford homes, societal divides are further entrenched and wealth distribution becomes increasingly skewed.

A fairer pricing model is desperately needed, one where home report valuations set a realistic benchmark for selling prices and ensure that all potential homeowners can compete in the housing market on equal terms. We call upon the Scottish Government to reconsider the offers over system and introduce a structure that levels the playing field for all buyers, promoting fairness and accessibility in our housing market.

Please sign this petition to urge those in power to take action towards eliminating the offers over pricing system and instituting fairer practices that could benefit everyone, especially those who are most vulnerable in today's economy.