Hips defended over effect on FTBs

Posted: 15 Nov 2007 10:53:01 GMT

The Royal Institution of Chartered Surveyors' (Rics') claim that Home information packs (Hips) are forcing first-time buyers (FTBs) out of the housing market have been slammed.

The Royal Institution of Chartered Surveyors' (Rics') claim that Home information packs (Hips) are forcing first-time buyers (FTBs) out of the housing market have been slammed.

Rics said that FTBs are being disadvantaged by the packs but the Association of Home Information Pack Providers (Ahipp) strongly disagrees.

In fact, the organisation is convinced that Hips will help FTBs, offering guidance and financial benefits.

"The latest Hip allegations from Rics appear to have disregarded the many benefits that the packs will offer first-time buyers - the most vulnerable of buying groups," said Paul Broadhead from Ahipp.

"With more information upfront and the costs incurred in gathering and providing information such as searches transferred to the seller, first-time buyers will find their first step onto the housing ladder a more affordable and more informed one," he added.

Ahipp appears to be growing increasingly frustrated by the amount of criticism being levelled at Hips and called on the government to ignore the naysayers.

"I would urge the government to listen to economists that sit on the Bank of England Monetary Policy Committee that make no mention of Home information packs contributing to the current market slowdown," continued Mr Broadhead.

© Houseladder Ltd