"Shame" to remove Hips

17-Sep-2008

It would be a "shame" to abolish Home Information Packs (Hips) as they give first-time buyers (FTBs) something for nothing, one expert states.

Helen Adams, managing director of FirstRungNow, says the more information FTBs have on a property, the better.

"For them in particular it would be a shame not to have Hips," she comments.

Ms Adams believes the introduction of Hips in August 2007 has probably helped FTBs, as they flag up things before the costs of a survey or search have been incurred.

"They've made things better for first-time buyers," she adds.

However, she warns that there has not been a sufficient turnover of property to judge whether the scheme has been a success.

Introduced gradually last year, all homes put on the market since December 2007 must have a Hip, which includes information such as a sale statement, local searches and evidence of title and an Energy Performance Certificate.

They are paid for by the seller and supplied free to prospective buyers.

FirstRungNow.com - how to buy a house, from finding your first flat or first house, first time buyer mortgages, shared ownership, buying with friends, gifted deposit, part buy part rent - all a first time buyer could possibly need.

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