Added costs 'will stall property market'

Richard Brown, chief executive of Moneynet.co.uk, says the changes could add thousands of pounds to the cost of selling a home, putting the UK property market on temporary hold. Commentators are forecasting an interest rate rise of 0.25% to 5.50% on the back of this week’s leap in inflation figures, as reflected by the Consumer Prices and Retail Process Indices. And with impending HIPs legislation likely to add an additional £1,000 burden to the cost of selling a home, Brown says home owners and buyers are likely to be caught in a double whammy for rising costs. “Many experts feel that a...