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Government releases positive Hips figures

Last year's introduction of Home Information Packs (Hips) for all UK properties sold was a success, the government claimed yesterday.

Housing minister Caroline Flint unveiled new research, which shows that 72 per cent of Hip customers are "fairly" or "very" satisfied with the packs.

Ms Flint also announced that the time taken to exchange contracts on a purchase, commonly funded by a home loan, had been cut by ten per cent.

The packs contain essential items for the transaction, such as an energy performance certificate, the sale statement and evidence of title.

Commenting on the study, Paul Broadhead at the Association of Home Information Pack Providers said: "These results show that even some months ahead of the implementation of Hips across the country, consumers in a number of locations were already seeing the benefits of the new process.

"I would now call on all those parties serving home buyers and sellers to work positively with Hips, ensuring that they are shown and explained to consumers - if everyone engages fully in the process Hips will help consumers move home with less stress, less wasted cost and greater certainty."

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