Tories state that it will take 100 days to abolish HIPs

Grant Shapps, Shadow Housing Minister, speaking yesterday at the Home Sale Network Conference, placed the property industry on notice that it would take three months to axe HIPs if the Conservatives win next year’s election. He estimated that this abolition process would take 100 days.

Whilst clarity for the industry is welcome, this information may lead sellers to consider it pointless to put their house on the market for a further 3 months in order to save themselves a couple of hundred pounds on a HIP.