The Council of Mortgage Lenders (CML) has expressed "serious concern" to the government over whether home information packs (Hips) will be implemented on time and the risks of making over-optimistic assumptions about their market impact.
In its report – Home information packs – the CML’s assessment of the new regime – the CML points out eleven weeks after 1 June 2007 was announced as the “go live” date for Hips, the government has still not published a detailed timetable for their implementation. The CML argues: “Without this it is difficult to have confidence in the process at all.” It believes there should be close scrutiny of the government’s performance against a detailed implementation timetable and, if there is any slippage in the delivery of Hips – which the CML says “is likely” – the 1 June 2007 date will need t...
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