Hips are "a needless burden" for buy to let mortgage holders

30 April 2010

Written by Gavin Elley

Conservative shadow local government and planning minister Bob Neill has said home information packs (Hips) are more of a hindrance than a help to the property market.

It is currently a legal requirement that when a house is sold, a Hip - a pack of documents that contain key information on a property - must be provided for the buyer by the seller or their agent

Speaking in a Property Week webinar this week, the Tory MP said: "Overwhelmingly the professionals in the housing world that I have spoken to - and estate agents, surveyors and lawyers - all say [a Hip] doesn't add anything. It is just a needless burden."

The party have said they would scrap Hips if they came into power and have pledged to keep the stamp duty threshold at its currently raised level of £250,000.

Bob Neill also mentioned the benefits that low interest rates have had on the property market.

Why not take a look at our best Buy to Let mortgages and make an enquiry online now.