National Homebuyers: 'Hips attacked again'

Home information packs (Hips) can prevent a homeowner from making a fast property sale and now the government is being attacked for spin over the packs.

[UKPRwire, Fri Dec 28 2007] According to the National Association of Estate Agents (NAEA), a recent report on Hips from the Department of Communities and Local Government was less than satisfactory.

"In particular the main conclusion is that there was no evidence to show that Hips were affecting transactions or prices and that the market slow-up was due to the economic and financial situation," said NAEA president Stewart Lilly.

"However, it was accepted that Hips must have had some effect, although it is really too early to be certain. This begs the question of how a decision to proceed can therefore be made?" he added.

One of the biggest issues surrounding Hips is the affect they will have on fast property sales and the NAEA is concerned that it is taking too long for a pack to be completed.

"As we stated after the last piece of spin, how can the term 'smooth roll out' be used when the minister herself has had to accept that the time taken for local searches is very patchy and that certain water companies are taking weeks to produce water searches," continued Mr Lilly.

Julian King of National Homebuyers says the cost of Hips will prevent some from selling. "A lack of understanding still exists with the homeowner.

"The cost of the packs can be off putting, meaning some properties fail to make it to market. The overall Hips experience has been badly thought out and badly executed".

Mr King is a director of National Homebuyers, the UK's leading fast property purchase firm, guaranteeing to make an offer on any property in the UK, regardless of its condition or location for vendors who need a quick sale. The company also offers a Sell and Rent Back mortgage rescue scheme for homeowners who want to release equity in their homes.

As a private commercial buyer, National Homebuyers do not require the vendor to have a Hips pack in place in order to purchase.

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