Scotland Without the Pound Seen as a Threat to Housing

A vote in favor of Scottish independence tomorrow threatens to weigh down a booming housing market should thousands of homeowners become debtors of foreign lenders.

Political leaders in the U.K. are sparring over whether an independent Scotland would keep the pound, with the outcome having major consequences for the economy and housing. If Scottish homeowners eventually have to repay pound-denominated loans in a foreign currency, they would face the risk of higher costs and possible default.