Santander claims HIPs were 'headache' in the housing market

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Santander claims HIPs were 'headache' in the housing market

The removal of home information packs (HIPs) may help to stimulate the housing market, a representative from Santander has suggested, after being a negative influence on the sector for two years.

Phil Cliff, mortgage director at Santander, described the move as "good news" for both homeowners trying to sell their property, as well as those people trying to get on the property ladder.

In his view, people may be enticed to get back into the housing market now that the extra paperwork and costs associated with HIPs have been removed from the equation.

Mr Cliff said: "Suspending HIPs may help stimulate the housing market, convincing homeowners who are currently reluctant to put their homes on the market."

These comments were made following the news the new coalition government intends to abolish the packs completely once primary legislation can be passed.

Communities secretary Eric Pickles labelled the documents "expensive and unnecessary" and suggested their removal will send a strong message to buyers and sellers in the housing market.

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