Mortgage and homes news
Conservative housing review
17 December, 2007
Grant Shapps, the Shadow Housing Minister, has begun a review into ways to improve the home-buying process.
The average house sale takes close to 3 months, and up to £339 million is wasted on abortive transaction costs each year, according to the Tories.
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Shapps is inviting submissions from the industry and consumers to find out how to make moving home faster, less expensive and less stressful. The Conservative Party has always said it will get rid of the controversial Home Information Pack (HIP) - now imposed on all properties on sale in the UK - and this review is to see what it can put in place to replace the HIP should they win the next election.
Speaking at the launch of the review, Shapps said: "We want to see if there is a simpler, more transparent way of purchasing a property. Moving home is a hugely stressful and often very uncertain experience and I want to see whether we can make the process easier."
"The Labour Government's typically bureaucratic answer to these problems has been to impose Home Information Packs (HIPs) against considerable opposition from the buying and selling public and the housing industry. Their worst fears have been realised; HIPs have introduced wasteful red tape and up-front costs to the seller with little or no appreciable advantage to the buyer. The next Conservative Government will scrap the cumbersome HIP, whilst keeping the Energy Performance Certificates (EPCs), but we also want to improve the process of moving home. This ‘Home-Buying Review’ will explore how this can be done."
Use our home movers' checklist as a guide
The review will be jointly conducted by Kirstie Allsopp, who will focus on the consumer perspective, and Owen Inskip, who will focus on the housing industry (estate agents, surveyors, solicitors and mortgage lenders). They have launched a website to gather the views of any firms or bodies or members of the public who want to make a contribution.
So if you do feel you have something of value to contribute - or just feel like a rant - please visit www.HomeBuyingReview.com and leave your submission.
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