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."

ADNFCR-1222-ID-18304827-ADNFCR

Cookies We use cookies to ensure that we give you the best experience on our website. To find out more about our cookies policy, see our cookies policy here or in the footer.