Best of the Week
Most Popular
1. Climate Change Mass Extinction - Birds, Bees and Bugs: Going Going Gone - Richard_Mills
2.A Purrrfect Gold Price Setup! - Peter_Degraaf
3.Who Finances America's Borrowing? Recession Indicator for Independent Thinkers Part 2 - F_F_Wiley
4.America’s One-sided Domestic Financial War - Raymond_Matison
5.Gold Price Summer Doldrums - Zeal_LLC
6.Two Key Events Will Unleash Gold - Jim_Willie_CB
7.Billionaire Schools Teacher in NAFTA Trade Talks - Richard_Mills
8.Get Out Of Crypto Cannabis Bubble Before It Pops and Move Into Bargain Basement Miners - Jeb_Handwerger
9.Stock Market Could Pullback for 1-2 weeks, But Medium Term Bullish - Troy_Bombardia
10.G7 Chaos, Central Banks and US Fed Will Drive Stock Prices This Week - Chris_Vermeulen
Last 7 days
Trumponomics Stock Market 2018 - The Manchurian President (1/2) - 21st Jul 18
The Death of Japan's Real Estate Dream - 21st Jul 18
SMIGGLE Amazing Mega Shopping Haul, Pencil Cases, Smigglets and Giant Back Packs! - 21st Jul 18
Cayton Bay Beach Caravan Park Holiday - What's it Like? - 21st Jul 18
Gold Stocks Investment Wanes - 20th Jul 18
Diversifying Your Stock Investing Strategies is Smart Investing - 20th Jul 18
Custom Global Stock Market Indexes May Be Sounding Alarms - 20th Jul 18
S&P 500 Just 2% Below Record High, But There's More Stock Market Uncertainty - 19th Jul 18
Stock Market Technical Picture - 19th Jul 18
Gold Market Signal vs. Noise - 19th Jul 18
Don’t Get Too Bullish on Gold - 19th Jul 18
Bitcoin Price Rallies to Upper Channel – What Next? - 19th Jul 18
Trump Manchurian President Embarrasses Putin By Farcically Blowing his Russian Agent Cover - 19th Jul 18
The Fonzie–Ponzi Theory of Government Debt: An Update - 19th Jul 18
Will the Fed’s Interest Rate Tightening Trigger Another Financial Crisis? - 18th Jul 18
Stock Market Investor “Buy the Dip” Mentality is Still Strong, Which is Bullish for Stocks - 18th Jul 18
Stock Market Longer-Term Charts Show Incredible Potential - 18th Jul 18
A Better Yield Curve for Predicting the Stock Market is Bullish - 18th Jul 18
U.S. Stock Market Cycles Update - 18th Jul 18
Cayton Bay Hoseasons Caravan Park Holiday Summer 2018 Review - 18th Jul 18
What Did Crude Oil - Platinum Link Tell Us Last Week? - 17th Jul 18
Gold And The Elusive Chase For Profits - 17th Jul 18
Crude Oil May Not Find Support Above $60 This Time - 17th Jul 18
How Crazy It Is to Short Gold with RSI Close to 30 - 16th Jul 18
Markets Pay Attention Moment - China’s Bubble Economy Ripe for Bursting - 16th Jul 18
Stock Market Uptrend Continues, But... - 16th Jul 18
Emerging Markets Could Be Starting A Relief Rally - 16th Jul 18
(Only) a Near-term Stock Market Top? - 16th Jul 18
Trump Fee-Fi-Foe-Fum Declares European Union America's Enemy! - 16th Jul 18

Market Oracle FREE Newsletter

5 "Tells" that the Stock Markets Are About to Reverse

UK Home Information Packs (HIPs) on the Rack ?

Housing-Market / UK Housing May 29, 2007 - 07:06 PM GMT

By: Submissions

Housing-Market The looming introduction of home information packs (Hips) will no doubt have had many property investors and landlords scratching their chins and wondering whether they would cost more than they could possible save.

While the packs might be a welcome boost for landlords looking to expand their portfolio, those aiming to sell off a few properties could have regarded them as one extra headache.


Now, however, the government has announced that the much-maligned Hips will be postponed until August 1st 2007 at the earliest - a decision which has been greeted with open arms and derision in equal measure.

The Council of Mortgage Lenders (CML) - the members of which are responsible for 98 per cent of residential mortgage lending - has urged the government to take a long hard look at Hips before deciding whether they really are the best measure to reform a home buying process that leaves many first-time buyers grasping at thin air when trying to get a foothold on the slippery property ladder.

While cautiously supporting the energy performance certificate, the body's director general Michael Coogan warned that the industry is now more doubtful than ever as to the likelihood of their success, if introduced.

"This cannot be an appropriate way to make policy," he remarked.

"With the fundamental lack of confidence that now exists in them [Hips], we urge the government to ditch the gold-plating and concentrate on better ways of delivering its objectives."

However, the CML criticism pales in comparison with the stinging barbs which have come the government's way from Louise Cuming, head of mortgages at moneysupermarket.com. The finance expert accused the government of adding "confusion to chaos" and called for it to "scrap the whole concept" of Hips.

"Since watering down the legislation it has become nothing but a political slurry and the most unsupported piece of legislation I have known," said Ms Cuming.

The Association of Home Information Pack Providers (Ahipp), on the other hand, has officially registered its "utter disappointment" that the legislation will not come into force as planned. Having been a stalwart supporter of the packs throughout the criticism and raised eyebrows they have faced, Ahipp's director general Mike Ockenden claims that it is consumers and the environment who will pay the cost of the government's delay.

According to Mr Ockenden, the packs would have been a great boost to both those involved in the buying and selling processes, with further time and money to be wasted until they are implemented.

So whether landlords are for or against the packs, it seems the inevitability of one eventually having to deal with them in some regard may just have become a lot less so.

By Jim Watson

http://www.assetz.co.uk/


© 2005-2018 http://www.MarketOracle.co.uk - The Market Oracle is a FREE Daily Financial Markets Analysis & Forecasting online publication.


Post Comment

Only logged in users are allowed to post comments. Register/ Log in

6 Critical Money Making Rules