Hips will spark housing market ''chaos''
The housing market in Britain will become "chaos" when Home Information Packs (Hips) are introduced in June, according to one expert.
From June 1st it becomes compulsory for all those selling their house to provide potential buyers with documentation listing the condition, energy efficiency, drainage and water faculties of the home.
This is designed to prevent nasty shocks for the potential buyers later on but Mark Readings from Home Network says that 87 per cent of Brits are unaware of the need for the packs and 45 per cent believe it will make home buying easier.
He said: "We predict that unless the chancellor acts now, home sellers will be in chaos come June 1st.
"The government needs to either spend more money to make home sellers aware, or scrap the scheme altogether."
Estimates of how much the Hips will cost to produce also vary wildly from £200 to £600 with confusion as to what they should contain.
© Adfero Ltd