I hear that there is to be a last ditch attempt to avoid Home Information Packs (HIP's). It will be the subject of a debate in the House of Lords tomorrow afternoon.
Conservative frontbench spokesman Baroness Hanham will urge the Government to revoke the controversial packs, which will be compulsory from June 1.
At Kinetic Financial Solutions, many of our customers have asked about HIP's for the past year. There is speculation that it will slow the market down significantly. Many of our customers are surprised that there hasn't been more information provided by the Government and that it hasn't been more publicised.
From June 1 it will be illegal to sell a property either through an estate agent, privately, on an internet site or through a newspaper advertisement without first compiling a HIP.
The cost seems to be the biggest issue to our clients. Moving house is costly enough without yet another cost on top. A HIP will cost between £300 to £1,000.
We faced the introduction of HIP's a year or so ago but it all came to nothing, mainly due to a lack of infrastructure, training and information. We will have to see whether this latest attempt comes off. I have heard that there is a legal challenge underway by the Royal Institution of Chartered Surveyors (RICS) who are calling for a delay due to there still being a lack of structure to the programme.
I will post how it affects Kinetic Financial Solutions and our customers. Our thoughts are that it will not affect things as speculated in the press. The property market in Essex where we are based is very buoyant and can stand the cost of the £300 - £1000 expected price tag of a HIP. Nevertheless, it is another cost and is most likely to affect the lower (first time buyer) end of the market.
Conservative frontbench spokesman Baroness Hanham will urge the Government to revoke the controversial packs, which will be compulsory from June 1.
At Kinetic Financial Solutions, many of our customers have asked about HIP's for the past year. There is speculation that it will slow the market down significantly. Many of our customers are surprised that there hasn't been more information provided by the Government and that it hasn't been more publicised.
From June 1 it will be illegal to sell a property either through an estate agent, privately, on an internet site or through a newspaper advertisement without first compiling a HIP.
The cost seems to be the biggest issue to our clients. Moving house is costly enough without yet another cost on top. A HIP will cost between £300 to £1,000.
We faced the introduction of HIP's a year or so ago but it all came to nothing, mainly due to a lack of infrastructure, training and information. We will have to see whether this latest attempt comes off. I have heard that there is a legal challenge underway by the Royal Institution of Chartered Surveyors (RICS) who are calling for a delay due to there still being a lack of structure to the programme.
I will post how it affects Kinetic Financial Solutions and our customers. Our thoughts are that it will not affect things as speculated in the press. The property market in Essex where we are based is very buoyant and can stand the cost of the £300 - £1000 expected price tag of a HIP. Nevertheless, it is another cost and is most likely to affect the lower (first time buyer) end of the market.
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