Shadow Housing Minister, Michael Gove, and Liberal Democrats shadow international development secretary, Susan Kramer, along with eight other MPs, have questioned the motives of HIPs, and in their motion have called for the delay, or cancellation of HIPs to protect the stability of the market.
Gaining cross-party support, the motion also highlighted concerns that the Home Condition Register (HCR) could be used to conduct a ‘council tax revaluation by stealth’ and that the government could benefit from a potential VAT windfall of over £100 million.
Dr. Ian Gibson, MP for Norwich North, was one of the 10 who signed the original early day motion. He said: “I am not convinced HIPs will speed up the process. Most estate agents I have spoken to are against the idea and I think it will, in fact, slow the mortgage process. I welcome the environmental elements of it, but from the dry-runs there is no evidence that HIPs work.”
However, Karen Babington, sales and marketing director at easier2move, dismissed suggestions HIPs would have a negative impact on the market. She said: “HIPs will not stop people moving house. Although there might be a blip in increased activity in the run up to the introduction of HIPs, I don’t see them adversely affecting the market.”
Speaking at the House of Commons, Housing Minister, Yvette Cooper, said HIPs would provide greater assurance for people buying property. “The positive involvement we are receiving so early on in the initiative should worry those dragging their feet. Miss this moment and they risk being left behind by a fast changing market.”
