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Government set to scrap HIPs

The UK government has already signalled its intention to scrap the controversial Home Information Packs (HIPs) which sellers are forced to pay for at a cost of £300. Many believe this simple move will increase the number of properties available in the marketplace and should in due course bring in more buyers and stabilise the UK property sector going forward. There are also plans to scrap a key Liberal Democrat policy, the so-called "mansion tax".

While there's no doubt that the UK property market needs all the help it can get at the moment it is interesting to see that both the Conservative party and the Liberal Democrat party are willing to compromise in certain areas. The UK property market needs to see an increase in mortgage liquidity but we also need to take away any smaller barriers to entry such as HIPs. While the government can only do so much to increase potential interest in the property market, with UK banks holding the answer to the liquidity question, there is no doubt that David Cameron has signalled an intent to hit the ground running.

Slowly but surely a number of changes are emerging from the new government which have on the whole gone down well with investors, taxpayers and the UK public in general.

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