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Text Box: “Over 150 organisations have said they are interested in joining the next stage of the HIP dry run this autumn and 49 have already signed up,” she said . “The level of positive interest and involvement we are receiving so early on in the HIP initiative should worry those dragging their feet. (They who) miss this moment risk being left behind by a fast-changing market.” Following a period of further consultation, revised details of the contents of HIPs are due to be placed before Parliament as secondary legislation later this month. These are likely to include an assessment of the impact of the new legislation. The Minister made it clear that the cost of a HIP will be set by the market — not the Government. “Adding up what the market is currently charging for existing products similar to the components of a Pack suggests a cost of around £600-700 plus VAT, but market watchers are predicting that costs will be driven down by competition,” said Ms Cooper, whose portfolio is now part of the newly-created Department of Local Government and the Regions. “Competition will have a big impact on the market - ASDA, for example, have just announced they are entering the estate agency market and their offer includes a free Pack. As we move towards the dry run, consumers will demand competitive offers from their suppliers - the industry must rise to this challenge.” Text Box: Back to News Text Box: Home Text Box: Home Text Box: News Text Box: Features Text Box: TechnoFile Text Box: Comment Text Box: Interview Text Box: Archive Text Box: Jobs Text Box: Letters Text Box: Events Text Box: Contact Text Box: Volume 1 Issue 5 July 2006 Phone: 01275 845656 Fax: 01275 845656 Email: news@conveyancingmonth.com Text Box: DOWNLOAD

 Join In or Lose Out, Warns Housing Minister

The Government has signalled it’s determination to press ahead with the new HIPS regime, scheduled to go live in June of next year, by warning property professionals that by standing on the sidelines, or even worse, actively opposing the proposals, they stood to lose out.

 

According to Housing Minister, Yvette Cooper, “innovative organisations” had take the lead in preparing for the introduction of HIPs.

Yvette Cooper