More evidence has today emerged that throws doubt on the credibility of the Conservative Party’ s flawed Policy on home information packs.
Data released today from leading conveyancer myhomemove reveal that failed property transactions have dipped into single figures since HIPs took full effect in April last year.
Since first day marketing without a HIP was removed, and the full search regulations became effective, this new set of figures show that only 9% of this company’s transactions failed between acceptance of offer and exchange of contracts. This contrasts favourably against the 23% of transactions failing as reported in Government’s Baseline Review published in February 2007.
No surprise here for those working within the industry, but yet a further credibility problem for Grant Shapps who continues to bang on with his blinkered assertion that the HIP must go as it is costing the house owner millions and millions of pounds. These statistics show otherwise, and prove that the home information pack continues to deliver and is helping to save millions of pounds each day in abortive sale costs. Not only is the consumer now saving a lot of time and money, but is also seeing and benefiting from quick and stress free transactions.
Unless there is an immediate review of policy Grant Shapps could very well find that this unwise policy decision could very well back fire and cause embarrassment.
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