Hips legislation criticised
Moneysupermarket.com has suggested that the new Home Information Pack (Hip) legislation due to be brought in could be a further hindrance to the mortgage market.
The rules state that every property put up for sale must have a Hip in place – something that the price comparison website believes will make the housing industry more fraught with paperwork and regulations.
Commenting on the law, moneysupermarket.com head of mortgages Louse Cuming seemed disenchanted.
"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 point out that the three to five days processing time for Hips serves to delay the sale of a home and questioned the point in adding further complexity to the situation.
The mortgage expert suggested that many buyers do not even read through the paperwork before viewing a home.
Hips must include an energy performance certificate that evaluates the efficiency of a home.
The papers include details on things like double glazing and conservatories.