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Dump HIPs now, urge estate agents

Estate agents have urged the new government to act quickly on its plan to scrap Home Information Packs.

The agreement drawn up between the Conservatives and the Liberal Democrats reveals plans to dump HIPs while keeping Energy Performance Certificates.

Peter Bolton King, chief executive of the National Association of Estate Agents, says: “It is vital the government acts quickly. Sellers are not going to want to spend hundreds of pounds now if they feel they won’t have to in a few months.

“The implications of thousands of home owners deciding to hold off selling could be serious.”

But Mike Ockenden, director-general of the Association of Home Information Pack Providers, says: “It’s not as simple as getting rid of HIPs. In our discussions with the government we agreed a consultation approach would be best.”

The government has also announced plans to hike Capital Gains Tax from 18% to 40% and hinted that the Bank of England will take some regulatory powers from the Financial Services Authority.

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