Home Information Packs criticised - buy to let mortgages

15 December 2008

The government's announcement that property sellers must have a Home Information Pack (Hip) available to show viewers on the first day of marketing their house has been criticised.

Keshav Thukaram, the managing director of Smartlandlord.co.uk - an online resource for those with buy to let mortgages - said that the changes may be detrimental to the property sales market.

He described the move as "just one more obstacle" for sellers looking to actively market their homes to overcome.

"Given the current position of the market in terms of property sales, I fail to see how this move from the government helps the situation," he remarked.

It follows housing minister Margaret Beckett's announcement that several changes are to be introduced into the Hip system.

A new questionnaire containing information on gas and electricity safety, flood risks, structural damage and service charges will be included in the packs.