View more on these topics

‘Cameron uninformed on Hips’

The Association of Home Inf-ormation Packs has attacked Tory leader David Cameron, describing his stance on Hips as an example of the “uninformed” comment circulating in Westminster.

Speaking at the Mortgage Business Expo in Manchester last week, Ahips deputy director general Paul Broadhead said Cameron’s suggestion that Hips should be scrapped because of the damage they will do to first-time buyers was the least valid of any argument against the scheme.

Broadhead said he had spent the last few weeks discussing Hips with MPs and found that many were unaware of the true facts behind their implementation.

He refuted suggestions of growing Hip disillusionment within the Government, saying the fact that housing minister Yvette Cooper kept her position in the reshuffle as well as new communities and local government secretary Ruth Kelly’s initial positive comments proved that Hips would not fall foul of a last-minute U-turn.

Broadhead said the timetable of regulation laid out in June followed by a dry run in January before the full rollout next June will not be derailed.

He also said providers were working on “no sale no fee” packs to bring to the market to address concerns.

Council of Mortgage Lenders head of policy Jackie Bennett said the CML is not against Hips but it has considerable concerns over the proposals, saying it is unlikely that the home inspector certification scheme and data bank will be ready by the June 2007 deadline.

Bennett also warned Chancellor Gordon Brown about the potential losses of stamp duty revenue due to market distortion and the unintended consequences of the new regime.

Broadhead said: “MPs are uninformed about what home information packs are going to do which is shown in claims from David Cameron about the effect on first-time buyers. If people were going to back any argument against Hips, it should not be that one.”


Royal prerogative

A radio phone-in on pensions provoked much response from listeners

Many happy returns

Credit Suisse Asset Management joint heads of multi-manager Gary Potter and Robert Burdett talk to Philip Scott about a decade of pioneering multi-manager investment

Zurich are up to the Challenge

“I’ve just opened the CML annual report and it smells lovely. It is not often any more that you get paper that smells that nice.” FSA’s Robin Gordon-Walker’s excitement at receiving the document”Do you know anyone who does voicebox transplants in the UK?” Royal Liver’s Andy Milburn after watching Liverpool win the FA Cup”Good news […]

Ritchie set to head Faculty of Actuaries

Scottish Equitable director of pension development Stewart Ritchie looks set to become president of the Faculty of Actuaries this year. With current president Harvie Brown coming to the end of his two-year term this year, the election is expected to take place at an ordinary general meeting at the end of June. Ritchie is vice-president […]


News and expert analysis straight to your inbox

Sign up


    Leave a comment


    Why register with Money Marketing ?

    Providing trusted insight for professional advisers.  Since 1985 Money Marketing has helped promote and analyse the financial adviser community in the UK and continues to be the trusted industry brand for independent insight and advice.

    News & analysis delivered directly to your inbox
    Register today to receive our range of news alerts including daily and weekly briefings

    Money Marketing Events
    Be the first to hear about our industry leading conferences, awards, roundtables and more.

    Research and insight
    Take part in and see the results of Money Marketing's flagship investigations into industry trends.

    Have your say
    Only registered users can post comments. As the voice of the adviser community, our content generates robust debate. Sign up today and make your voice heard.

    Register now

    Having problems?

    Contact us on +44 (0)20 7292 3712

    Lines are open Monday to Friday 9:00am -5.00pm