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I wonder if there will be a lack of properties coming onto the market when the election is announced. Since the Tories will get in, there doesn't seem to be much point paying £300 for a HIP when they will be rendered pointless afterwards.

On another HIPpy subject, I am responsible for selling 2/3 houses at the moment for probate. There is clearly a kickback procedure from the HIP providers to the EA. If you have a house to sell, be aware of this.

VMR.

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I wonder if there will be a lack of properties coming onto the market when the election is announced. Since the Tories will get in, there doesn't seem to be much point paying £300 for a HIP when they will be rendered pointless afterwards.

Don't rely on any such thing happening fast. Even if the tories scrap them, they'll have more pressing things on the agenda. Personally I hope HIPs stay: when I view a house, I'd like to think the prospective vendor is at least motivated enough to have spent a few quid, and not a pure 100%-timewaster.

Interest rates are driving the low supply. Anyone with an old mortgage doesn't want to lose it!

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I have no problems with HIPs. IMO they should go further with it.

Same here, I always request the HIP before going to look at a property. Getting the price and mortgage history is always interesting.

My only point is that there may be another deadzone where sellers wait for the Tories to get in. Did anybody else notice the last deadzone where new propertis stopped coming on the market when HIPs became compulsory at the point of first marketing earlier this year? I wondered if that had helped the spring bounce figures since the number of houses available for sale shrunk dramatically and buyers got desperate.

I have one buyer interested in a probate property I have to sell. They have told me that there is nothing for sale in that area and they are indeed desperate.

VMR.

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Don't rely on any such thing happening fast. Even if the tories scrap them, they'll have more pressing things on the agenda. Personally I hope HIPs stay: when I view a house, I'd like to think the prospective vendor is at least motivated enough to have spent a few quid, and not a pure 100%-timewaster.

Interest rates are driving the low supply. Anyone with an old mortgage doesn't want to lose it!

Not so sure about this. A friend works for a company that provides data that needs to be included in every HIP. They are the sole provider of this data. They have spent a lot of money investing in IT etc to be able to provide this info. They have been working quite closely with the Tories for obvious reasons. The Toris have told them that they will kill HIPs within weeks of getting in to power.

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Interest rates are driving the low supply. Anyone with an old mortgage doesn't want to lose it!

Interesting point. I can see how that is going to reduce the supply. In my area inventory on Rightmove has been depressed since it started to fall away in the summer/autumn of last year, just about when interest rates were coming down.

I guess people will start to think about moving again as their two-year fixes and trackers start coming to an end.

Since there's been less remortgaging activity in the last year it should be working it's way through quite soon. But I don't have any data to prove this.

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  • 406 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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