In order that the launch of Home Information Packs goes smoothly, the Government today announced a timetable of events which is intended to make the introduction of these mandatory packs for home sellers work successfully after their introduction on June 1 2007.
Kay dates include:
Larry Banda, head of mortgages at Nationwide, welcomed the outline: ?There has been some uncertainty about the Government’s plans so this announcement is very welcome. We support any move to improve the consumer’s experience and speed up the house buying process and we believe that the introduction of HIPs should be especially helpful for first time buyers.
?In setting out this timetable the Government has confirmed that it is committed to introducing HIPs from 1 June 2007. Nationwide can now prepare for the impact that HIPs are likely to have on our
members and we welcome the clarity that this announcement gives us.?
However the Royal Institute of Chartered Surveyors on the other hand, expressed dismay at not being consulted on the timeline, and has its own reservations.
RICS spokesperson William Tew said: ?RICS has consistently supported the principles of HIPs, but has become increasingly concerned at the approach being taken by ODPM regarding implementation. We were not consulted on the timeline published today and having a timeline will not guarantee programme success.
?As a public interest body we are committed to working with Government and other stakeholders to help provide a better home buying experience for consumers. Government and industry need to work together to deliver these reforms, but Government has not yet provided the environment within which this can happen.
?The industry cannot be expected to develop a framework to qualify and regulate professionals to work in this field while the rules of the game are continually changing, particularly when these are emerging without proper consultation and agreement.?
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