Benefits of Hips highlighted by Ahipp

Posted: 10 Dec 2007 10:57:51 GMT

Home information packs (Hips) will benefit the property market and make it easier for first-time buyers (FTBs) to purchase a home.

Home information packs (Hips) will benefit the property market and make it easier for first-time buyers (FTBs) to purchase a home.

That is according to the Association of Home Information Pack Providers (Ahipp), which has defended the packs again following a report which attacks them.

The Conservative party has published a report into home-buying and calls for Hips to be scrapped amid claims that they are slowing down the housing market.

However, Ahipp strongly disagrees with the report's findings and said that the true benefits of Hips will become apparent once a full rollout is in place.

"Claims that Hips are of little benefit to buyers are simply untrue. Hips are the first, vital step of home-buying reform, set to speed up the process and make it more transparent, as well as aid first-time buyers in getting onto the ladder," said Ahipp deputy director general Paul Broadhead.

"Currently one in four transactions fail when purchasing a house, costing consumers £1 million per day.

"Hips may not be a panacea for all the problems in the housing market, but if built upon correctly can provide the foundations for a revolution in the process for the benefit of all consumers," he added.

Hips are currently mandatory when selling a property with three or more bedrooms and will be extended to all properties in England and Wales from December 14th.

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