Success of Hips still undetermined
Published: 11-Oct-2007
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Landlords and other private property owners remain largely unconvinced by the value the much maligned Home Information Packs (Hips) and it is not yet clear whether they will ultimately succeed, it has been claimed.
According to research published this month by London & Country, a fee-free mortgage broker, 62 per cent of people believe that the information provided in Hips will be of no aid to them when selling their property.
A spokesperson for London & Country said: "At the moment the jury is still very much out on Hips. Only time will tell.
"People were very aware that they needed them but there was an overall feeling of not having value for money."
She went on to say, though, that perceptions on the value of the information provided in the packs could change once the market becomes uniform and everyone sellinghas to have a Hip.
Since September 10th, 2007, all people selling properties with three or more properties have been legally required to provide a Hip.
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