CML slams Hips
A government proposal to make home information packs (Hips)
compulsory when a property is purchased has been dismissed by the Council of
Mortgage Lenders (CML)
Legislation comes into force on June 1st 2007, relating to the distribution of
Hips and the director general of the CML, Michael Coogan, has underlined his
belief that there are not enough home inspectors in place to meet demand for
the packs.
Allied to this, Mr Coogan said that he did not believe the dry run of Hips, to
take place late in 2006, would be an effective measure of their success, when
he addressed members of the property industry at a dinner.
Mr Coogan remarked: "I understand that there are less than 500 qualified
home inspectors - we are woefully short of the numbers needed to produce even
energy performance certificates if they remain a core part of the pack."
The aim of the pack is to provide house buyers with comprehensive information
surrounding the property purchasing process, as well as legal documents and an
energy performance certificate.
Story Courtesy Of MoneyNews.co.uk
