The extension of the government's home information pack (Hips) scheme could bring about a negative investment trend in the rental sector, the Residential Lettings Association has said
Mark Butterworth, RLA director, criticised the scheme as "mind-numbing" and adding that his members had complained about poor service and delays from pack providers.
He added that his members were worried "about the extension to two bed and rented property and a general sentiment that any more paperwork is likely to lead to disinvestment in the rented sector".
Figures from the Royal Institution of Chartered Surveyors (RICS) reveal that there has been a 67 per cent drop reported by respondents to its survey in the number of three-bedroom homes becoming available after HIPs were applied to such dwellings in September.
Yesterday the Association of Home Information Pack Providers (AHIPP) hit back at claims from RICS that extending the scheme to smaller homes would disadvantage first-time buyers.
AHIPP deputy director general Paul Broadhead said first-time buyers had the most to gain from HIPs because it shifted costs away from them and to the seller.
© Adfero Ltd
Date: 14th, November, 2007
ADVICE TO READERS
While this website is checked for accuracy, we are not liable for any incorrect information included. We recommend that you make enquiries based on your own circumstances and, if necessary, take professional advice before entering into transactions.
Enter your postcode here to find out how much your property is worth, based on Land Registry data.
RSS Feed
Delicious
Digg
reddit
Facebook
StumbleUpon