Hips Hips hooray!
18 June 2008
Now that time and money have been spent on introducing Home Information Packs (Hips), people should enjoy the benefits of them, according to Convex.net.
Duncan Samuel, managing director of the London-based conveyance firm, explains that in the company's experience, transactions have speeded up as a result of the packs' introduction.
"Last year our average time from receipt of contract papers to completion was 43 days, and this year it has been 38, so there has been an improvement of five days in our experience," he comments.
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In news that may well be of interest to people looking to compare popular mortgages, Mr Samuel states that the property industry has been united in telling the government that Hips would provide "minimal" benefits at best.
Despite this, he suggests that consumers enjoy the marginal improvements that the packs afford, rather than writing them off.
Mr Samuel's comments come in response to the Carsberg Review of Residential Property, which stated that Hips have not improved the process of buying and selling homes.
The Housing Market June 2008
