4 Oct

Homeowners still sceptical about Hips

Homeowners still sceptical about Hips

British homeowners are yet to be convinced of the value of home information packs (Hips), a new study has revealed.

According to figures from mortgage broker London & Country, 62 per cent of UK homeowners perceive that a Hip will not help them sell their home.

Homeowners' primary objection to the packs was the cost, with 78 per cent saying they regarded the £350 price of a Hip as too expensive.

The research also showed that energy ratings - which are a component part of a Hip - are not a significant factor when mulling a prospective home purchase for many homeowners, with 55 per cent saying they regarded such information as less important than factors such as location.

James Cotton, mortgage specialist at London & Country, said that scepticism of the value of Hips is mostly the result of people's relatively unfamiliarity with them.

He said: "It is still early days for the packs and the rules now cover around 60 per cent of the housing stock.

"As more and more people in a chain become familiar with both providing and using Hips, customer attitudes towards them should hopefully improve. We may also see some reduction in cost as they become more widespread."


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