News

New coalition 'will abolish Hips'

 
13 May 2010

Homeowners who have invested in a bespoke conservatory or other home improvement in order to boost their chances of selling their property may be buoyed by the new Conservative and Liberal Democrat coalition.

Both parties pledged to scrap home information packs (Hips) in their election manifesto and Mouseprice.com asserted that the new union will mean that this will definitively happen.

David Cameron became prime minister earlier this week after Gordon Brown tendered his resignation to the Queen.

Mouseprise.com director Selwyn Lim explained that he welcomes the possibility of Hips being abolished as they have failed to live up to their promise.

"Hips decreased liquidity in the housing market because, whilst it was a small factor, it nevertheless was a factor in putting some people off putting their properties on the market," he said.

The expert added that there might still be "uncertainty" over when the measure will be removed from the selling process, which could mean people delay putting their homes up for sale.

Posted by David WaxmanADNFCR-2746-ID-19776606-ADNFCR

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