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Written by rosalind renshaw

Shadow housing minister Grant Shapps has put the industry on notice that it would take three months to axe HIPs if the Conservatives win next year’s election.

Speaking at yesterday’s Home Sale Network conference, he said he estimated the process would take 100 days.

Shapps also said that, for first-time buyers only, his party would raise the Stamp Duty threshold to £250,000.

Comments

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    "Admin Fee" Pussycat? Just exactly what sort of admin is involved handing on something from a supplier to a consumer? Isn't "retail markup" a more accurate description and possibly the reason why some estate agents are tentatively approving of HIPs?

    • 07 December 2009 09:16 AM
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    What everyone is missing here is by scrapping the HIP you are rendering 1000's of people unemployed, HIP providers will fold quicker than a bad hand in poker leaving a trail of debt in their wake.

    They are talking big now, but watch out for the inevitable "U Turn" which will come. No one wants the blood of industry on their hands for the sake of a few tight fisted vendors and agents that cant sell their way out of a paper bag.

    • 06 December 2009 16:10 PM
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    It is better to see a considered comment rather than cheap promises for headline effect. It cant be done overnight.

    • 06 December 2009 11:20 AM
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    Schapps: stop shaking your HIPs for nothing and go shake the NHS' hand instead!

    • 04 December 2009 15:54 PM
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    Another pro HIP then?

    • 04 December 2009 15:40 PM
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    So we have a lull in the market, lose any admin fee we add on to the Hip price and go back to the old way of buying and selling property. Progress, not!

    • 04 December 2009 14:21 PM
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    I think the bigger picture is being missed here, a 90 day lull in instructions to see the end of HIPS. I'll have a bit of that please.

    • 04 December 2009 13:46 PM
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    the only person to ever go into downing street/houses of parliment with good intentions is Guy Fawkes

    • 04 December 2009 13:39 PM
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    He (Grant Shapps) just doesn't understand, does he! He has no concept of how the property market works. Heaven help us.

    • 04 December 2009 13:11 PM
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    Here we go again, more bullshit, now its extended to 100 days! Will Shapps still be Housing Minister after a Tory reshuffle? What will his successor do? Is this another u-turn? You can't trust any of these politicians! And thanks for the stamp duty announcement, that's really going to help sales in March, April and May! Although I hate to say so, I think Brown was right, these plans must have been conceieved on the "playing fields of Eton"!

    • 04 December 2009 12:50 PM
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    Mr Grant Shapps,
    Stop messing about!
    1. Scrap HIP's in the first week.
    2. Increase the starting Stamp Duty threshold, yes, but why penalise second time buyers?
    Better to consider that the higher Stamp Duty to be paid should only apply to the price achieved above the lower threshold. That would be fair and reasonable.

    • 04 December 2009 12:40 PM
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    So exactly how does Grant Shapps and (Dame) Kirstie Allsopp intend to improve the way property is bought and sold and when?

    • 04 December 2009 10:26 AM
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    What an absolute prat. Housing stock is at an all time low and he has just given everybody the heads up that if they, Tory Boys, win, there is no point putting your house on the market for three months if you want to save your self a couple of hundred quid. What a great idea that is you prat.

    • 04 December 2009 10:17 AM
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    Interestng comment on stamp duty threshold increase for FTB's only - I can already feel people working out ways of avoiding stamp duty when buying in buy to lets and other sub £250k property. Perhaps there should be a prize for the most imaginative tax avoidance idea?!

    • 04 December 2009 10:14 AM
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