Price comparison site criticises Hip rules

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The new legislation which means homeowners must have a Home Information Pack (Hip) in place before putting their property up for sale has been criticised by an industry expert.

Monesupermarket.com head of mortgages Louise Cuming expressed her concern that the move will stifle the housing market further by adding another layer of bureaucracy.

"This is one nuisance the mortgage market could do without," she said. "The new legislation will add more hurdles to be cleared before marketing your house."

Ms Cuming went on to explain that the three to five-day processing time it takes for the Hips to be made available increases the time required to sell a property.

She questioned the necessity to have them in place before the house goes to market as research shows many buyers fail to read through the documents before viewing a home.

The packs must contain an Energy Performance Certificate, which includes information on the efficiency of things like heating and conservatories."ADNFCR-1495-ID-19092197-ADNFCR"

 

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