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First-time buyers 'to benefit from Hips'

First-time buyers may be set to benefit from the government rollout of home information packs (Hips), it has been claimed.

Hips provide information for homebuyers on the property they buy, including a sale statement, searches, evidence of title and an energy performance certificate, and were made mandatory for every house by the government last year.

First-time buyers may benefit from Hips more than other people on the housing market, according to FirstRungNow, which stated that they are the only people who will not be fronting the cost of the packs.

Helen Adams, managing director of FirstRungNow, said: "Anything that gives first time buyers extra information about the property is good."

Ms Adams went on to add that more information should be included in the packs over the minimum amount, especially with regard to the home condition report, bills and council tax.

People hoping to buy their first homes may wish to take out a home loan to cover the cost of moving.

See how much you could borrow with a home loan from Lombard Direct.
© Adfero Ltd

14/01/2008 14:47:59

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