Virtually no-one is happy with Hips, says Conservative minister

Posted: 28 Apr 2010 10:05:08 GMT

Virtually no-one is happy with the current home information pack (Hips) situation, the Conservative shadow local government and planning minister has stated.

Bob Neill, speaking in a Property Week webinar, says: "Overwhelmingly the professionals in the housing world that I have spoken to - and estate agents, surveyors and lawyers - all say it doesn't add anything. It is just a needless burden."

He advises that if the Conservatives were voted into power in the upcoming general election, the party would revoke the current legislation and abolish Hips.

Mr Neill goes on to add that interest rates need to be kept to manageable levels, as historically low rates are helping the UK property market to move out of recession.

According to the Conservative manifesto, the party also plans to permanently raise the stamp duty threshold to £250,000 for first-time buyers, meaning nine out of ten will avoid paying this tax altogether when purchasing their first home.

Additionally, they hope to introduce a foot on the ladder programme to allow good social tenants to own an equity stake in their home.

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