Call for HIPs to be scrapped

The National Association of Estate Agents has called for HIPs to be scrapped. Peter Bolton King, chief executive of the National Association of Estate Agents, said:

‘Once again a fair and rational examination of Home Information Packs has concluded that the system as it stands is simply not working. Firstly the cost is punishing sellers in the pocket at a time when they really need all the help that they can. More galling, they are spending this money in the knowledge that 77% of buyers admit that they paid no attention to the pack whatsoever.

Currently the law states that all vendors must be in possession of a HIP before they can market their property from April 6 this year – whereas currently vendors can market their property if they have applied for and are awaiting the report.

‘Margaret Beckett herself admitted that HIPs are not working – but now she seems to have buried her head in the sand along with the rest of her department. HIPs are confusing to customers and act as a dampener on a housing market which is essential to Britain’s economic recovery.

With all indicators pointing to a troubled year ahead the NAEA has called on Mrs Beckett to suspend HIPs while the housing market is suffering and re-examine their viability once the market has begun to pick up.

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