No more Hips, following new suspension order

Posted: 20 May 2010 14:29:50 GMT

Home information packs (Hips) will soon be a thing of the past following an immediate suspension order issued today (May 20th).

Hips provide property information to potential buyers and can cost homeowners hundreds of pounds to produce if they want to sell their house.

But communities secretary Eric Pickles and housing minister Grant Shapps have worked together to suspend the requirement in preparation for a permanent abolition of the scheme, which they say is "holding back" the already unstable housing market.

Mr Shapps said: "This is a great example of how this new government is getting straight down to work by cutting away pointless red tape."

According to Andrew Hagger from Moneynet.co.uk, Hips were introduced to make buying houses more efficient but only seem to have discouraged people from selling up.

He added that Mr Shapps has been "true to his word" after pledging to get rid of Hips on coming into power.

Mr Pickles believes this will not only help the market get back on track, but will also boost the economic recovery.


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