HIPS kill UK housing market
Posted: Jun 25, 2008 | Category: Moving HomeForget the credit crunch, it’s not that which has killed the UK housing market, it’s blasted HIPS, pure and simple.
For the uneducated - HIPS, Home Information Pack
Now, I am not a cynic by nature, but isn’t the whole HIPS thing is nothing more than a money making scheme for Her Majesty’s Government?
I have no doubt that HIPS have been a major factor in the recent current collapse of the housing market. Yes a lot of people are hurting because they are coming off of cheap mortgages, but people need to realise we have been in a boom period and that like anything all good things must come to an end.
Why do we need hips?
A hip consists of a sale statement, local search information and evidence of title. A HIP also includes an Energy Performance Certificate which contains advice on reducing CO2 emissions and utility bills.
What utter garbage, here is what the main site say about HIPS: HIPS could save you money, time and stress.
If anything the cost of getting a HIP done is more likely to increase stress.
The British people have not bought into HIPS, they are just another layer of bureacracy which we can do without. The credit crunch is the easy excuse from the goverment, but HIPS have not helped the housing market in the slightest.
Digg | Del.icio.us
June 27th, 2008 at 7:23 am
I am afraid to disagree, HIPs aren’t perfect and certainly need some improvement (I’d make the HCR compulsory for starters) but HIPs can, without a doubt, save you money.
I doesn’t make much of a difference in a transaction that goes through without a problem, where it really helps is when that does NOT happen. And whether you believe or not there are plenty of transactions that full apart half way through.
I know people (home buyer) who has spend over £1000 on searches and surveys, just to decide that the outcome of the survey wasn’t good enough. Had those properties have a HIP it would have save them that money.
Millions of Pounds are wasted every year that way.