Moving home is costly business

If you are planning to move to another property during the second half of this year then be warned, it may hurt the pocket.

A new poll from Woolwich says that home information packs (Hips), which become compulsory in June, are going to be a nasty financial sting in the already expensive process of moving homes.

Some 85 per cent of estate agents believe Hips will increase the cost of moving, while 77 per cent say that the packs won't improve the efficiency of moving properties at all.

Andy Gray, head of mortgages at the Woolwich, said: "The market definitely favours sellers at the moment.

"We expect the pressure to continue on fees as long as it stays a sellers market. Especially as the introduction of Home Information Packs in the summer will only add to the cost of selling a house."

The cost of moving for sellers has decreased by ten per cent and it now costs on average £4,666 to move home compared to £5,181 last year.



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