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Financial Services > Mortgages > Mortgages News
Mortgage holders told home information packs will reduce stress

Fri, 04 May 2007

The stress of moving house will be reduced when home information packs become mandatory, it has been claimed.

Mick Ockenden, director-general of the Association of Home Information Pack Providers, has made the prediction after pointing to the findings of a recent research project from estate agency Your Move.

According to the study, 40 per cent of people admit to being less productive in the workplace as a result of relocating, mortgage holders may be surprised to learn.

And Mr Ockenden points out that if each of these workers lost ten per cent of their overall productivity, the annual cost to the UK economy would be £500 million.

" Hips [home information packs] will undoubtedly have the benefit of reducing stress levels for home buyers and sellers across the UK and, as a result, this could potentially translate into a huge benefit," he said.

Currently being trialled in several isolated parts of the UK, the home information pack scheme is scheduled to officially go live nationwide on June 1st 2007, as many mortgage holders will be all to aware.

Property sellers must supply energy performance certificates and a sales statement as well as other pieces of documentation before they are permitted to put their house on the market .

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