The news was welcomed yesterday that the government is indeed to scrap the controversial Home Information Packs. The Conservatives and the Liberal Democrats have both agreed that it is the right course of action. They will be keeping the energy performance certificates.
What is needed now is for this to be actioned as soon as possible to avoid confusion and any further damage to the housing market.
The HIPs have been a real thorn in the side of the Industry, they have failed to benefit homebuyers and have really discouraged sellers putting their properties up for sale.
The HIPs are supposedly aimed at reducing the time spent on all sale and purchase transactions by providing buyer information.
These packs costing approximately £350 are needed before you even consider marketing your home. They have stifled the housing industry at a time when it least needed it.
The speed in which the government acts is vital. There will be a vast number who will wait until these HIPs are gone to put their homes on the market. The implications of this ‘hold off’ could have a detrimental effect for the housing market.
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