New Mortgage Guides

Other Mortgage Guides

Mortgage Types

Mortgage Tools

Next month crucial for Hips, says mortgage council
Tue, 30 May 2006
The implementation information expected over the next month will be vital in determining the future success of home improvement packs (Hips).

According to the Council of Mortgage Lenders (CML), the government information that will emerge over the next few weeks will give the professionals involved in the housing market a chance to assess the implementation timetable.

Details expected in the next month include regulations covering the contents of the Hips, business and technical standards (including complaints and redress) and information about the government's forthcoming research into the current mortgage market .

The announcement comes with one year left until the implementation of the packs, although Michael Coogan, director general of the CML believes the timescale is "very challenging".

"Over the next month the government is due to publish a detailed range of implementation information. Reactions to this will help to determine whether any delays are likely to emerge," said Mr Coogan.

"We only expect the full effect of Hips on the mortgage lending market to become apparent over time, rather than on day one of implementation."

Hips, which are set to become compulsory for sellers on June 1st 2006, are designed to help buyers to find a mortgage successfully and avoid potential pitfalls with the property .

Link to this page

Copy and Paste the following HTML into your page.

Mortgage lenders

Browse mortgage lender offersMortgage Rates by Lender

  • Browse current mortgage offers from over 90 lenders.
Browse

Worried about mortgage repayments?Worried about Mortgage Repayments?

  • Join our petition to Government to bail out burdened individuals, not just banks.
Sign the petition

Free mortgage quoteFree Mortgage Quote

Apply Here

Mortgages in Scotland Mortgages in Scotland

Read More

Equity releaseEquity Release

  • Unlock equity in your home.
Apply Here

Switching mortgagesSwitching Mortgages

Read More

Home reversion plansHome Reversion Plans

Apply Here

Commercial mortgages Commercial Mortgages

  • Commercial property loans
  • Starting a business?
Apply Here

Arrears & CCJs?

  • Remortgages
  • Sub prime mortgages
  • Arrears, CCJs
  • Self certification
  • Debt consolidation
Apply Now

Protect your mortgageProtect Your Mortgage

  • 3 months free mortgage protection cover
Apply Now

Mortgage Newsletter