NAEA calls on Government to suspend HIPS

"Firstly the cost is punishing sellers in the pocket at a time when they really need all the help that they can get.

"More galling, they are spending this money in the knowledge that 77% of buyers admit that they paid no attention to the pack whatsoever.

"Margaret Beckett herself admitted that HIPs are not working – but now she seems to have buried her head in the sand along with the rest of her department.

"HIPs are confusing to customers and act as a dampener on a housing market which is essential to Britain’s economic recovery.

"With all indicators pointing to a troubled year ahead the NAEA calls on Mrs Beckett to suspend HIPs while the housing market is suffering and re-examine their viability once the market has begun to pick up."

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0 thoughts on “NAEA calls on Government to suspend HIPS

  1. Jason Coombes

    HIPs have failed, it’s obvious to most people within the industry, no matter at what level you as a property professional are involved, whether that is conveyancing, estate agency, surveyor, financial services of a newly qualified D.E.A, it’s the later I feel most sorry for, leaving the previous employment under false promises of the pot of gold at the end of the rainbow! It is a clear fact the vast majority of buyers do not read or even ask to see the pack, those that do don’t fully understand it, and of course a lack of clarity about the length of a packs life span and that of the information contained within. Another interesting point came to light yesterday, whilst I was progressing a sale I had to ‘educate’ a conveyancer on which properties need one, and which don’t! most estate agents would really welcome an initiative that would speed up the home buying process and cut down the amount of time sales spend in ‘limbo’ between sale agreed & exchange. Think about it why wouldn’t we, its our commission of course we’d want to get sooner! Quite frankly I’m getting bored of hearing HIP providers, and AHIPP members tub thumping, blaming ever other profession involved in the housing market for the HIP pack failing to deliver. I’m sure a HIP could have a valid place in the housing transaction, but it would need to be a better document than it is now.