21 May

Suspension of HIPs is "great news"

Suspension of HIPs is "great news"

The suspension of home information packs (HIPs) has been described by one industry practitioner as "great news".

According to mortgage director at Santander Phil Cliff, the move will be welcomed by house sellers and buyers alike.

Yesterday (May 20th), the new Conservative/Liberal Democrat coalition announced that homeowners are no longer required to provide the packs and the suspension is intended to turn into a permanent ban.

Housing minister Grant Shapps and communities secretary Eric Pickles claimed the move will save sellers hundreds of pounds.

Issuing his response, Mr Cliff said: "Consumer and industry feedback has highlighted that HIPs were a headache for many people trying to buy and sell their homes over the last two years."

The housing market may be stimulated by the news because some consumers who were reluctant to put their residences up for sale due to the paperwork involved will have less bureaucracy to deal with, he went on to note.
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