Peddie Smith bags contract for £15m Scottish housing scheme

Scotland-based firm Peddie Smith Maloco Law Group has won the conveyancing contract for the new £15m 'mortgage to rent' scheme launched by the Scottish Executive.
The scheme aims to help Scottish families at risk of losing their homes through repossession by giving them the opportunity to sell to a social landlord and become the tenant of their property instead.
PSM Legal, a division of Peddie Smith, won the contract to advise on the scheme after competing in a beauty parade against four other Scottish firms, including Conveyancing Direct.
A spokesperson for Communities Scotland, which will administer the scheme, said: "PSM Legal was chosen because we thought they had the edge on a variety of factors including cost."
It is estimated that the scheme will help around 250 households a year.