AHIPP: Hips will benefit first-time buyers
November 15, 2007 by admin
Filed under News, News-Mortgages
The advent of home information packs (Hips) will offer many benefits to first-time buyers, according to the Association of Home Information Pack Providers (AHIPP).
Recently the Royal Institution of Chartered Surveyors claimed that Hips would end up making things more difficult for first-time buyers.
But AHIPPS has maintained that actually Hips and the Energy Performance Certificate included in it, will save first-time buyers time and money.
Paul Broadhead, the deputy director general of AHIPP, said: “The latest Hips allegations from RICS appear to have disregarded the many benefits that the packs will offer first time buyers – the most vulnerable of buying groups.
“With more information upfront and the costs incurred in gathering and providing information such as searches transferred to the seller, first time buyers will find their first step onto the housing ladder a more affordable.”
Because it is the seller of the house that must pay for the Hip, many expenses for the actual buyer will be discounted, Mr Broadhead added.
Hips became required for homes with three bedrooms or more on September 10th this year.
