|    FM Home   |    FM News   |    FM Forum   |    FM Blog   |   
Saturday 17th of July 2010
May 13, 2010    

HIPs to go as coalition government takes charge

Bookmark and Share

by Gill Montia

The Conservative/Liberal Democrat coalition government has confirmed that it is proposing to scrap the unpopular Home Information Pack (HIP), while retaining energy performance certificates, which are required under European law.

HIPs were introduced in 2007 despite strong opposition from the Royal Institution of Chartered Surveyors and National Association of Estate Agents, who argued that the packs were useless as they did not include a property survey.

The Tories were were in agreement and pledge to abolish the packs if returned to government.

No timescale is available for an end to the HIP but City law firm, Wedlake Bell, has recently warned that hundreds of HIP providers could become redundant virtually overnight.

According to the firm’s head of residential property, Jeremy Raj: “Hundreds of home inspectors left their old jobs and invested their own money into the HIPs industry either to pay for their own training or set up their own business.”

He adds: “It is a real shame that they were persuaded to risk so much to provide a service that almost nobody in the property industry wanted.”

Discuss this in the Finance Markets forums

Story link: HIPs to go as coalition government takes charge

Related financial stories to: HIPs to go as coalition government takes charge:
Previous: «
Next: »

Visited 2007 times, 8 so far today

No Comments »

No comments yet.

RSS feed for comments on this post.

Leave a comment

Tags: , , , ,