Hips not the cause of mortgage market slowdown
Home Information Packs (Hips) should not be blamed for the recent slowdown in the mortgage and housing markets, according to an industry expert.
Hips were originally introduced as a means of reducing the number of property transactions that fell through, according to Communities and Local Government.
Rob Kellermann of legal property advisers Firsthips explains that once people understand the purpose of Hips "they will start to see the benefit".
He said: "Unfortunately Hips have had a bad reputation before we started having a chance of seeing the benefits.
"At the end of the day a Hip costs £300, which you actually save when you buy a property. If you are selling your house for £200,000 you are not going to say 'I'm not selling it anymore because I've got to pay £300."
Early Hips performance statistics published by Communities and Local Government show that, on average, four-bedroom houses are being rated as "E" for energy performance, which is the third-lowest rating.
Hips were originally introduced as a means of reducing the number of property transactions that fell through, according to Communities and Local Government.
Rob Kellermann of legal property advisers Firsthips explains that once people understand the purpose of Hips "they will start to see the benefit".
He said: "Unfortunately Hips have had a bad reputation before we started having a chance of seeing the benefits.
"At the end of the day a Hip costs £300, which you actually save when you buy a property. If you are selling your house for £200,000 you are not going to say 'I'm not selling it anymore because I've got to pay £300."
Early Hips performance statistics published by Communities and Local Government show that, on average, four-bedroom houses are being rated as "E" for energy performance, which is the third-lowest rating.
