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Flaws show in foundation for house sellers&#39 packs

Home information packs and home condition reports may finally be introduced in the next Parliamentary year with the inclusion of the Housing Bill in the Queen&#39s Speech.

The packs will require a seller to compile information about the property. Supporters say this will deter gazumping but critics believe that the information will become rapidly outdated and say the packs will increase the cost of buying and selling a house.

The National Association of Estate Agents says it continues to share the concerns raised by the Treasury select committee over sellers&#39 packs and has urged the Government to listen to the industry before finalising its proposals.

Chief executive Peter Bolton King says: “From this scant mention, it is difficult to ascertain the Government&#39s intentions in pressing ahead with the introduction of home information packs and the more controversial home condition reports. The association has always pointed out flaws in bringing in Hips, which ultimately may not speed up the housebuying process and will certainly increase costs to sellers.”


Life after depolarisation Zurich: 10-year multi-ties with initial cash and buyouts

Zurich Advice Network is understood to be offering IFAs a 10-year deal with an initial cash payment and buyouts of up to five times annual earnings as part of its multi-tie plans. Money Marketing believes the provider intends to have part of its business remain IFA and the rest tied in a process it has […]

Berkeley Berry Birch reduces losses

Berkeley Berry Birch has reduced its pre-tax losses by 23 per cent to £3.8m for the six months to September 2003, compared to £4.9m for the same period last year. The Berkeley Independent Advisers network subsidiary has seen its RI numbers grow to 671 from 584 in six months bringing total groupwide RI numbers to […]

Watchdog&#39s view is critical

The Financial Services Ombudsman is reckoned to be looking warily at the trend towards reviewable premiums on critical-illness policies, with some product providers saying that the watchdog has indicated that such contracts may fall foul of unfair contract principles. It has indicated its concerns that policyholders may not understand the premiums they are being quoted […]

Muddled thinking on making pension provision

I read with interest Richard Gillingham&#39s letter (Money Marketing, November 13) in response to Lorna Bourke&#39s article on pensions. The article referred to calculations carried out by actuaries at Mercer Human Resources which indicated that a pension fund of £180,000 needed to be accumulated by the age of 65 to provide the equivalent to the […]


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