The home information pack regime has been left in disarray after a dramatic U-turn this week which has seen home condition reports axed.The Department for Communities and Local Government says HCRs will not be compulsory when Hips are launched next June. The move has raised question marks over whether the scheme will be watered down further or eventually scrapped. One industry estimate is that £250m has been spent by businesses on Hips. John Charcol senior technical director Ray Boulger claims the Government’s hand could have been forced by the lack of trained home inspectors to complete HCRs but adds: “This could be positive as it brings certainty that Hips will be launched on time.” Following last week’s launch of a campaign against Hips by the Conservatives, Shadow housing minister Michael Gove says: “It appears that the Government’s scheme for home information packs is unravelling fast under pressure. The flaws in the scheme have been repeatedly highlighted by the Conservatives but so far ignored by the Government.” Housing minister Yvette Cooper says: “We believe there is a significant incentive for consumers to top up their Hip voluntarily to include a full HCR although the remaining aspects of HCRs will not be made mandatory.” Easier2Move sales and marketing director Karen Babington says: “This is a shock. The Government has removed one of the fundamental features of Hips.” Association of Home Information Pack Providers deputy director general Paul Broadhead says: “This is an unnecessary move but HCRs could still become mandatory later.”
Two big names in the protection industry recently discovered that they had more than an industry in common. Royal Livers Andy Milburn and RGAs Jason Hurley have only just twigged that their mothers are best friends and have been for years. Clearly their mothers have had far more interesting things to talk about than their […]
The Association of Finance Brokers has been formally established to represent secured-loan advisers. It will become part of Aifa and will be a sister trade body of the Association of Mortgage Intermediaries. The announcement comes two months after the AMI and the Corporation of Finance Brokers’ published their plans to form a joint organ- isation. […]
Some of the poorest pensioners will not benefit from the proposed white paper state reforms according to the Pensions Policy Institute.Also a potentially high level of eligibility to pension credit in the future will threaten the success of personal accounts according to the educational charity in its damning assessment of the white paper.The PPI says […]
Skandia Investment Management has brought out the global best ideas fund, a manager of managers portfolio comprising the 10 best stock ideas of 10 managers.
Jelf Employee Benefits has given its initial thoughts on the chancellor’s 2014 Autumn Statement. The company is seeking to isolate the sections of the speech (and the supporting document) that are relevant to the employee benefits debate. The first such area is pensions related.
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Legal & General has appointed Mark Jones to the role of product director of UK protection, within its insurance division. Jones joins from Sun Life. He will be responsible for the developer of both retail and group protection products, and will report into the managing director for UK protection, Steve Griffiths. Griffiths says: “We are […]