Sellers 'will benefit from Hips U-turn'
Posted: 20 Jul 2006 11:00:04 GMT
The government's latest decision on Home Information Packs (Hips) has been welcomed by the Council of Mortgage Lenders (CML).
In a significant change of tack, it was confirmed yesterday that the Home Condition Report (HCR) will only be a voluntary part of the Hip, when introduced next year.
Reaction to the decision has been mixed to say the least, with some estate agents complaining about the money they have already spent training inspectors and others saying that Hips should be abolished altogether.
But the CML claims that the U-turn is a wise decision that will have a positive effect on the house selling process.
"We are pleased that the government has recognised the considerable risks of a 'big bang' approach to introducing Hips with full HCRs from June 1st 2007," commented Jackie Bennett, CML's head of policy.
"We have always said that the timetable was challenging for such a complex set of changes. Consumer demand, and not the government, will now drive take-up of HCRs," she added.