Hips 'will lower costs for first-time buyers'

Home information packs (Hips) will help first-time buyers in their effort to get onto the property ladder by lowering costs, HipHipHooray.com has said.

The pack provider has said that new buyers' conveyancing bills will be vastly reduced by the fact that the onus is now on sellers to supply much of the necessary information.

The provider's assertions contradict the recent comments made by the Royal Institution of Chartered Surveyors (Rics), which said that Hips would hit the housing supply chain and consequently make things harder for buyers.

"A local authority search can, depending on your area, be anything from £60 to £300 and that alone is worth getting the Hip for," said HipHipHooray.com's Lesley Sorridimi.

"Secondly, your title information – again, you would have had to pay the solicitor but that will be in the Hip so you will not need to pay for that.

"It's giving them information they would have had to have had upfront, and it's paid for already by the vendor," Ms Sorridimi concluded.

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