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.
Share this..
Related stories
New government scheme will secure landlord deposits
A press and radio publicity campaign has been started to raise awareness about a new government scheme which will help secure deposits for both tenants and landlords. The government's new Tenancy Deposit Protection (TDP) scheme will be launched in April this year and will especially be aimed at ethnic minority communities. TDP will aim to make sure all tenants are repaid their correct entitlement...
Read MoreBarclays boss suggest property market has further 15% to fall
When John Varley, the chief executive of Barclays bank, decides to pitch in with his view on the property market it really is time to wake up and listen. Mr Varley has today made his views clear suggesting that property prices are set to fall by a further 15% before the property downturn is complete, something which would mean an overall fall of 30% since the top of the market. Whether John Varley...
Read MoreWhen will first-time buyers be allowed back onto the property ladder?
Over the last couple of weeks it would appear that UK mortgage approval numbers have been rising, and are in fact at double the number seen in November/December 2008. This would appear to give something of a shine to the UK mortgage market when in reality there is still a lack of realistic deals available first-time buyers and indeed unless deals do appear many may well miss out again. In what...
Read MoreChildren's damage knocks thousands off house price
As many as one in ten parents claim that damage caused by their children has reduced the value of their home by an average £2,000.A survey conducted by Direct Line found that six out of ten parents with children under five said their little darlings had somehow damaged their home, with spilt food and stains on carpets being a concern for 78 per cent of parents.Some 76 per cent said their children...
Read MoreGeneration gap in FTB market perceptions
08/06/2015 A new study by high street bank Halifax has found that there are wide differences in perceptions of the first time buyer market between generations. The study found that 12% of parents believe it is “virtually impossible for first-time buyers to obtain a mortgage”, yet this rises to 21%, or one in five for prospective first time buyers. Halifax interviewed over 40,000 20 to...
Read More