Insurance News Archive

Hips 'are a needless burden' for buy to let insurance holders

Posted by Judith Stevenson

There are virtually no buy to let insurance policyholders who are happy with home information packs (Hips), a Conservative politician has claimed.

Shadow local government and planning minister Bob Neill said in a Property Week webinar said that the professionals in the housing world that he had spoken to had overwhelmingly agreed that Hips do not add anything.

He said of the process: "It is just a needless burden."

The Conservatives have pledged to abolish Hips, which they say have made a "significant contribution to problems in our housing market".

Their policy is backed up by the Liberal Democrats, who have also promised to scrap "burdensome" Hips. However, they would retain the requirements for homes to have an energy performance certificate.

Labour want to keep the packs in place and have promised that there would be no stamp duty for first-time buyers on all house purchased below £250,000 for two years under their government.

29 Apr 2010