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 Current homeowners do not benefit from Home information packs (Hips), according to FirstRungNow, spelling bad news for any homeowners in financial difficulties.
The firm claims that only first-time buyers (FTBs) see any real benefit from the packs, which became a mandatory part of the home-selling process for all properties in December.
Helen Adams, managing director of the firm, pointed out that people in financial difficulties who want to sell their home have to pay for Hips, potentially plunging them further into financial difficulties.
Financial Difficulty | Sell and Rent Back your home
"First-time buyers, in my opinion, are the only people that can benefit from Home information packs," she said.
"Everyone else on every other part of the property ladder has to have the expense of buying one," continued Ms Adams.
Hips were initially introduced for properties with four or more bedrooms in August, before being expanded to include three-bedroom homes in September and finally to all properties in England and Wales in December.
Fast property sale expert Julian King adds, "Hips were initially introduced for properties with four or more bedrooms in August, before being expanded to include three-bedroom homes in September and finally to all properties in England and Wales in December.
"Now every property owner looking to sell in the UK is forced to part with more than £300 in order to market their property to a limited number of potential buyers.
"Hips offer very little benefit to the majority of homebuyers and causes increasing problems for homesellers".
Mr King is a Director of National Homebuyers, the UK's leading fast property sale firm that guarantees to make a cash offer to purchase each property quickly, regardless of its condition or location. The company is a leading provider of Mortgage Rescue Schemes such as Sell and Rent Back when the homeowner can sell their property for cash, but remain in their home as a tenant.
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