Hips are "a good thing" for market
The roll out of home information packs (Hips) will prove to be a
good thing for the UK property market, it has been predicted.
Of late hips have come in for criticism from the Royal Institution
of Chartered Surveyors (Rics), which claims that the packs will
cause sellers to delay putting their home on the market and prompt
a shortage of housing supply.
However, according to Stephen Ludlow, director of property agent
Ludlowthompson, Hips will in fact be a boon for the market since
they will bring about greater transparency for buyers and
He added: "It's a much clearer transaction because you don't have
to go through the conveyancing process that perhaps could cause
problems later on."
Mr Ludlow's remarks come as Hips will from this week apply to all
homes sold in the UK.
The roll out has been staggered with four bedrooms requiring the
packs as of last August and three bedroom homes compelled to have a
Hip from last September.