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Coalition gives the HIP a shove!
Coalition gives the HIP a shove!
QualitySolicitors, Chosen by You!
Leicestershire,
Leicester,
United Kingdom
(prbd.net)
18/10/2010
The new Lib Dem – Conservative government has promised the removal of the controversial packs known as HIPS. One property expert as gone as far as to say that the housing market will suffer if the new coalition government do not stick to their promise.
But the removal of the HIP requirement could be as equally devastating as if it remained. It would effectively make hundreds of providers become redundant virtually overnight.
In their coalition agreement, the two political parties had agreed to get rid of the HIP’s which allow purchasers to find out information about the property that is for sale. The new coalition government proposes that home owners only need to keep their energy performance certificates.
However, the coalition government have not since the agreement, made it clear that it is a priority at the moment. In the meantime, those people who are wishing to sell their home could be left in limbo at the moment, warn some property solicitors.
"The government must act quickly to scrap HIPs, as a delay may cause homeowners considering selling to wait before putting their homes on the market," they said.
"A reduction in the supply of homes for sale at this crucial stage in the housing market recovery would harm the revival."
The introduction of the HIP’s scheme in December of 2007 was done so based on the idea that this would make property easier to sell and speed up the process. However, it seems to have achieved the opposite effect. Many people complain that they are too expensive, only generate more
HIP’s do seem to add little to the conveyancing process."Sellers see them as an annoyance, buyers don't ask to see them and solicitors often refuse to rely on the information they contain.”
The removal of the HIP’s agreement will mean that hundreds of inspectors will find themselves without a job overnight. A large number have even invested their own money into the scheme so as to pay for their training and costs. An even greater number are self employed and so can not expect any sort of redundancy package to cushion the blow.
The industry itself is annoyed that the last government did not follow the appropriate consultation to establish that the HIP service was necessary and sustainable. But it seems that it will be the industry itself that will bear the brunt of this assault.
Antonia Torr is a graduate from the University of Leicester, with a degree in Law with European Union Law. Having enjoyed writing from a young age, Antonia has received numerous awards that act as a testament to her quality of writing. Should you wish to read more of Antonia’s work, feel free to visit her at www.qualitysolicitors.com. There you will be able to find all the resources you need, from law guides to actually finding a solicitor. Why not pop in to a Quality Solicitors Branch today, or visit our website at http://www.qualitysolicitors.com to find the nearest one.
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