Latest Insurance News
Hips 'need urgent action'
26 Aug 2008
The government must take urgent action regarding Home Information Packs (Hips), the National Association of Estate Agents (NAEA) has claimed.
According to the body, Hips are "not fit for purpose" and are making the poor housing market situation for commercial property insurance customers worse.
Peter Bolton King, chief executive of the NAEA, said Hips slow down the house buying process, which is causing additional problems within the housing market.
He described the situation for those involved as "madness" and suggested that the information in a pack be slimmed down to a sellers' questionnaire, an energy performance certificate, and the land registry title and plan.
Mr Bolton King added: "In times of economic hardship, let's stop this ridiculous repeating of information and shameful waste of consumers' money!"
Earlier this month, the BBC reported after special investigations that some estate agents were breaking the law by marketing properties before a Hip had been ordered.
