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Hips 'should be scrapped'

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Home information packs (Hips) need to be scrapped as they alter the buying and selling process for many people, it is claimed.

Gary Smith, vice-president of the National Association of Estate Agents, says they were never a good idea and move the country away from a free market.

"Some people say the searches should be redone after three months, most say six months," he continues.

Mr Smith believes it can take longer than this to sell a property, which means people have to go through the entire process again.

He believes they have made the home buying process move away from the situation "when someone could determine when they wanted to sell their property".

Earlier this week, the Council of Mortgage Lenders (CML) revealed that mortgage lending activity decreased in January, with 23,400 loans for the purchase of houses completed.

Both first-time buyers and house movers were affected, the CML found.ADNFCR-1100-ID-19072994-ADNFCR

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Date Published: 13 March 2009

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