Lives left broken after Hips removed

Despite the fact that the UK government received a warm welcome after removing home information packs from the property arena it seems that hundreds of companies in the UK have effectively been terminated overnight. A number of Hips specialists were formed when the UK government announced their introduction in 2007 and hundreds of thousands of pounds of money was invested into this new and potentially lucrative sector. But oh how things have changed!

Literally overnight a number of firms around the UK have seen their business decimated leaving many business owners with massive debts and no way of trading in the future. Many Hips specialists believe that the UK government had very little option but to remove them from the system because of a very lukewarm response from estate agents around the UK. The belief that this was the first stage towards a new and stricter regulatory regime for the sector seems to have been behind the lack of momentum and interest in Hips.

However, when you consider that estate agents up and down the UK are reporting a significant jump in properties on the market purely and simply because of the fact Hips had been removed, you could argue that estate agents in the UK have called the situation right.