Government ''should have postponed Hips roll-out''


Fri 21st Dec, 17:08:01 GMT

The government should have waited for the effects of recent economic turmoil to ease before rolling out home information packs (Hips) to all properties, a property expert has suggested.

Since the scheme was first introduced, it has come under fire from an array of organisations, including the National Association of Estate Agents, with many arguing that the packs do little to simplify the process of purchasing a home.

On December 14th, the packs became compulsory for all homes but Tracy Thompson, conveyancing executive at solicitors firm Morecrofts, commented that it may have been better if the government had waited six months until the housing and financial markets had calmed after recent upheaval.

"There has been a general slow down in the housing market in recent months with increased interest rates, the ''credit crunch'' and problems with first time buyers being able to get onto the housing ladder.

"In this climate I think it is a mistake that the government has rolled out Hips for all homes," she said.ADNFCR-1143-ID-18405032-ADNFCR


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