09/03/2006

Tory Party says 'No' to HIPs

The Conservative Party has joined with estate agents in opposing the Government’s forthcoming implementation of Home Information Packs (HIPs). Speaking to The Daily Telegraph, Caroline Spelman, the Conservative local government spokesman described HIPs as a potential “roadblock” to home ownership. Rather than speeding up the process of home-buying, as its supporters claim, Ms Spelman said she thought that the introduction of HIPs would leave sellers, “… saddled with an extra cost of up to £1,000, lenders will probably demand their own assessments, and many buyers will want their own survey.” Meanwhile, Peter Bolton King, chief executive of the National Association of Estate Agents, said his organisation feared that the, “stability of the housing market and the entire economy” could be hit by the new laws.

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