Released on = May 28, 2007, 10:47 am

Press Release Author = Jimwatson

Industry = Real Estate

Press Release Summary = 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.


Press Release Body = 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.

Web Site = http://www.assetz.co.uk/

Contact Details = Assetz House, Newby Road, Stockport, Cheshire, SK7 5DA, 0845 400
7000, linkexchangeseo@gmail.com