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Buyers still not sold on HIPs

Conveyancers have called on the government to abolish Home Information Packs after a report by the Department for Communities and Local Government showed the packs are still not working.

The DCLG’s annual report reveals that only 40% of buyers see HIPs before purchasing properties, with half of these only looking at a pack after making an offer.

Christopher Taylor, chief executive officer of conveyancing specialist London & European, says: “The government has had little success in its efforts to convince consumers and the housing industry of the benefits of HIPs, simply because there aren’t any.”

Sharon Buthlay, director at conveyancing specialist CMS, adds: “Most sellers consider HIPs to be nothing more than a nuisance and an unnecessary expense.”


Business-to-business news in brief

  • HSBC launched a two-year fixed rate mortgage at 2.99% as it revealed that its mortgage application requests doubled in February compared with January 2009. The bank is also offering two new longer term fixed mortgages – a five-year deal at 3.99% and a 10-year loan at 4.98%. Martijn van der Heijden, head of mortgages at HSBC, said: “The feedback we have received from our customers is that the majority want to lock into today’s historically low interest rates.”
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    Health Shield joins the Association of Medical Insurance Intermediaries

    Health cash plan provider Health Shield has joined the Association of Medical Insurance Intermediaries (AMII) as a corporate member. The non-profit-making Friendly Society is one of eight health cash plan providers to join the intermediary trade body, which is looking to establish working parties with intermediaries and providers on issues such as product innovation and regulation.


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