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NAEA in new call to axe HIPs

The National Association of Estate Agents has renewed calls to terminate Home Information Packs in the wake of the government’s admission that it has spent £1.3m promoting them.

Peter Bolton King, chief executive of the NAEA, says that HIPs are punishing sellers at a time when they need all the help that they can get.

He says: “More galling, they are spending this money in the knowledge that 77% of buyers admit that they paid no attention to the pack whatsoever.

“The housing minister Margaret Beckett herself has admitted that HIPs are not working – but now she seems to have buried her head in the sand along with the rest of her department.

“HIPs are confusing to customers and act as a dampener on a housing market which is essential to Britain’s economic recovery.”


Miles set for Blanchflower’s role

Professor David Miles is set to take over from David Blanchflower as an external member of the Monetary Policy Committee.The chancellor, Alistair Darling, announced the appointment, with Professor Miles taking up the position from June 1 2009.Professor Miles has been chief economist at Morgan Stanley since September 2004 and he is also a visiting professor […]

Equity release can be boon for elderly

A by-product of the credit crunch has been the effect of falling interest rates on pensioners’ income, primarily affecting savings and annuities.

Vital to halt wave of repossessions

The publication of the Financial Services Authority’s latest mortgage lending statistics make grim reading on a number of fronts, not least the dramatic rise in mortgage and secured accounts in arrears and the 68% increase in the number of repossessions since 2007.

BDS launches Platform exclusive

BDS Mortgage Group has launched an exclusive three-year mainstream product at 4.19% to their network members and appointed representatives of the Pink Group network.


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