UK Money News
8th May 2008
Hips final roll-out delayed
Reports that the final roll-out of home information packs (Hips) is to be delayed have been confirmed by the housing minister Caroline Flint.
In an official statement issued by Department for Communities and Local Government yesterday the rumours of a postponement to the system were dismissed as speculation.
However, Ms Flint has since confirmed that the requirement that all properties have a Hip from their first day on the market, which had been due to be enforced as of June 1st, will now not be introduced until "the end of the year".
She said: "Our evidence shows that it has been effective in doing this. However, we believe that a further period of the flexibility provided by the measure would be prudent."
Currently a Hip is only required upon the completion of a sale.
Since the packs were introduced they have attracted considerable criticism with many arguing that the extra expense they entail is further forcing first time buyers out of the market.
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