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'It would be a shame' to remove Hips

Published: 17 September 2008 in New Mortgages

To remove home information packs (Hips) would be "a shame" when looked at from the perspective of first-time buyers, it has been claimed.

In news that may be of interest to those seeking a new mortgage, answering the Conservative party's call last week to suspend the scheme would remove the benefits it gives to young people hoping to get a foot on the property ladder.

Such is the assertion of Helen Adams, managing director of FirstRungNow, who claimed that the more information a first-time buyer could gather on a potential home, the better.

"From a first-time buyer perspective they probably have helped, in that things can be flagged up in a Hip before a survey or a search and before costs have been incurred," she added.

People looking for a new mortgage may be interested to know that Hips were first introduced in August of last year and include information such as a sale statement, local searches and evidence of title.

New Mortgage:- JST Financial, New Mortgage, Re-mortgage Specialists catering for good and adverse credit for UK homeowners
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