Home Informations Packs ( HIPs ) - Who will benefit?
The new Home Information Packs ( HIPs ) look set to be a ( life insurance policies ) cost for buyer and seller and a source of income for government - or is that undue pessimism?
Author: Richard Norfolk (cheap life insurance)
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- Mortgages. Higher Lending Charges are outrageous.
- Higher Lending Charges are often charged if your mortgage is 90% or more of your property's value. We think the charge is a form of profiteering by the lenders and should be abolished. This article explains why.
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Note the words sale attempt - failure to sell the house will not result in a refund of these costs. The ( insurance ) house inspector will have done his job and been paid, and the government will have taken their cut in the form of VAT, so it will be sorry folks - no money can be returned. Try again later? Certainly, but in the increased Snakes and Ladders format of house sales you have gone back to the beginning and must start the whole process from square one. (life insurance advisers)
The life of a pack will be three months (subject to a provision if the house is ( loans ) off the market for sales negotiations); after this period a new up-dated pack will be required. Under these circumstances the speculative sellers who are testing the market will disappear rather than face this new cost; they are likely to decide to stay out of the market. This loss of a seller also means loss of a buyer, and there is concern in some circles that this could reduce labour mobility. Home owners may be reluctant to move to a new job if it means the additional hassle of moving house, with a consequent increase in unemployment. (mortgage deals)
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Your home may be repossessed if you do not keep up your repayments on a mortgage or any debt secured on it. Security by way of a charge on your home may be required.