Say no to HIPS, urges agent
Norwich estate agent Christopher Hall is urging homeowners to vote against HIPS (Home Information Packs) by adding to an online petition set up by the National Association of Estate Agents (NAEA.
Norwich estate agent Christopher Hall is urging homeowners to vote against HIPS (Home Information Packs) by adding to an online petition set up by the National Association of Estate Agents (NAEA.)
Mr Hall, immediate past president of the NAEA, has consistently opposed the introduction of HIPS and has already registered his vote. Along with other members of the property industry he is urging the government to scrap HIPS in the light of the potential of a disastrous effect the scheme could have on the housing market and the wider economy.
Mr Hall said: “There is considerable opposition from all sectors of the property industry to the introduction of HIPS. With recent interest rate rises and even more predicted, the added burden of expenditure that HIPS will give homeowners will almost certainly have a detrimental and destabilising effect on the property market overall.
“Consumers need to be alert to the fact that they will be liable for hundreds of pounds of costs relating to collating purely the legal elements of the HIPS. They will also have to produce an energy efficiency report which, in our view, will not only add further to the costs but will be of little or no benefit to them.
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“The process is flawed; one of the reasons, if not the main reason for the introduction of HIPS was to speed up the house buying process and the government seems to have lost sight of this.
“A far better alternative would be to ensure that all local authorities have the technology to electronically speed up their part of the searches process and the government to encourage all solicitors (through tax incentives) to introduce the technology to enable electronic conveyancing.
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Both would ensure that the house-buying process would be speedier and more efficient eliminating the need for HIPS.”
The petition can be accessed online at http://petitions.pm.gov.uk/repeal
ofHIPs/ There are now over 5000 signatories just over a week after the launch.
From June 1, 2007 HIPS will be a compulsory part of the buying and selling process. The onus will be on the seller to produce a pack outlining details of the state of their property to prospective buyers and agents or a seller (if selling privately) face a fine of £200 per day per property if they do not do so.