4
Oct
Homeowners still sceptical about Hips
British homeowners are yet to be convinced of the value of home
information packs (Hips), a new study has revealed.
According to figures from mortgage broker London & Country, 62
per cent of UK homeowners perceive that a Hip will not help them
sell their home.
Homeowners' primary objection to the packs was the cost, with 78
per cent saying they regarded the £350 price of a Hip as too
expensive.
The research also showed that energy ratings - which are a
component part of a Hip - are not a significant factor when mulling
a prospective home purchase for many homeowners, with 55 per cent
saying they regarded such information as less important than
factors such as location.
James Cotton, mortgage specialist at London & Country, said
that scepticism of the value of Hips is mostly the result of
people's relatively unfamiliarity with them.
He said: "It is still early days for the packs and the rules now
cover around 60 per cent of the housing stock.
"As more and more people in a chain become familiar with both
providing and using Hips, customer attitudes towards them should
hopefully improve. We may also see some reduction in cost as they
become more widespread."
