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Rics expresses further doubt over Hips

The Royal Institution of Chartered Surveyors still has serious concerns over the implementation of Hips, despite yesterday’s Government announcement that was aimed at speeding up the home-buying process.

The Governmet yesterday set out a new consultation to promote energy efficiency by proposing estate agents include energy performance certificates.

The consultation also sets out that sellers, for an initial transitional period, will be able to market their home as soon as an EPC and key legal documents are provided as long as searches and leasehold documents have been commissioned. These transitional arrangements will be reviewed after six months.

RICS spokesman Oliver Gilmartin says: “Any attempt by the Government to make the home buying process clear and transparent is to be welcomed. However, we still have serious concerns over the implementation of what is now an incomplete solution to the original problem.

“We anticipate that more property will come onto the market before June as sellers try to avoid the upfront costs of HIPS. Any easing in house prices is likely to be short lived as we expect the market to level out quickly.”


Policy fraudster gets away with £160,000

Norwich Union has been accused of not doing enough to prevent fraud after one of its policyholders had his endowment policy cashed in by a fraudster.Policyholder David Bland says the insurance company has acted in a “reckless, negligent and incompetent manner” after he had his 15-year-old endowment policy cashed in by a fraudster for around […]

Passing trade

I am now turning my attention away from pensions towards corporate planning issues, starting with a subject known to many advisers as director share purchase although this is not entirely accurate.


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