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The Credit Cruncher was conceived to help you to keep up to date with credit crunch and recession developments, it provides some helpful credit crunch advice and it addresses personal debt. The Credit Cruncher also seeks to explain how the credit crunch started and shed some light on the worldwide recession. Recently, we have begun to look at how BREXIT will affect the UK economy. Please feel free to leave comments where relevant.

15 Jun 2010

Home Information Packs (HIPs) scrapped

In May, the UK government scrapped the scheme that obliged house sellers to have a costly 'Home Information Pack' produced to give to prospective purchasers. The scheme had some good principles behind it, but it has long been the aim of a campaign by estate agents to have the scheme scrapped, however the EPC (Energy Performance Certificate) will be retained. In the meantime the housing market seems buoyant - average prices seem to be rising and instructions to sell are also on the increase, it is widely felt that HIPs was getting in the way of prospective sales, and removal of this obstacle could free the market up a little.
In an economy that is so closely linked to the financial markets, it is hoped that measured stimulation of the housing market could help to stabilise the conomy as a whole - it is difficult to see what 'industries' will get us out of the current doldrums as the UK is desperately short of any industry of any type...

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