Most agents sit on the fence over independence

With four days to go before the Scottish referendum most agents operating both south and north of the border appear to be sitting on the fence over the independence issue - with one exception.

Agents including Savills and LSL Property Services, contacted by Estate Agent Today, refused to give their view on the matter while others like Knight Frank said they had considered the matter but would resist taking a public position.

A spokesman for one of Scotland's leading agents, Rettie & Co., said it was also keeping silent: Too much is open to misinterpretation and we're a service business says a spokesman.

One exception to the rule, however, has been Strutt & Parker, which has residential sales in Scotland as well as substantial estate and farm activities.

It 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.

Strutts also says 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.