We would encourage anything that speeds up the buying & selling process but the HIP is just an expensive botch, which is of limited value.

There is an awful lot of (hidden) fees being made by agents for HIP referrals.
Don’t get ripped off!

Isle of Wight Homes have never had any referral fees as we give out a list of HIP providers & you contact them yourselves, you can currently buy your own HIP for £249 No VAT (If you contact your own Solicitor they often match the cheapest deal as long as you allow them to do the conveyancing).

I must apologize to the person who left the blog re the red funnel ferries – I pressed “save” & it disappeared somehow!
Basically he said that if you buy two day return tickets for the separate days you wish to travel, it is far cheaper than paying a period return. You simply don’t use half the tickets. And basically what a rip off the ferry prices are!

I do know that other people have done the above & saved a lot of money.
Any comments gratefully received
Simon

Halifax reports that house prices fell by 2.4% in May and prices were 3.8% lower on an annual basis.

These recent falls must viewed in the context of a 79% increase over the five years to August 2007, with the average UK price rising by more than £88,000 between August 2002 and August 2007.

The decline in prices is caused by the difficulties created for potential house purchasers by the rapid rise in house prices in the last few years, a squeeze on spending power and the reduction in credit availability.

High employment levels, low interest rates and a shortage of new homes support housing valuations. Employment increased by 117,000 in the three months to March compared with the preceding quarter and stands at a record high 29.54 million.

Commenting, Martin Ellis, chief economist, said: "House prices fell by 2.4% in May. Price falls should be measured against the significant gains in recent years. The average UK house price rose by more than £88,000, or 79%, between August 2002 and August 2007. The decline in prices is caused by the difficulties created for potential house purchasers by the rapid rise in house prices in the last few years, a squeeze on spending power and the reduction in credit availability. These factors have curbed housing demand. High employment levels, low interest rates and a shortage of new homes support housing valuations."

There has been little change in 'real' earnings over the past year. Average earnings rose by 4.0% in the year to March compared to a 3.8% increase in the headline rate of retail price inflation over the same period. Sharp increases in both fuel (9%) and food prices (7%) over the past year have helped to reduce the discretionary income available to households to fund house purchase.

The number of mortgages approved to finance house purchase - a good leading indicator of house sales - in April 2008 was 49% lower than in April 2007 at 58,000.

Employment increased by 117,000 in the three months to March compared with the preceding quarter and stands at a record high 29.54 million. The UK economy is forecast to slow during the course of 2008, recording below trend growth for the first time since 2005. We expect unemployment to rise somewhat during the year due to this easing in growth. The scale of the increase in unemployment is unlikely to cause widespread difficulties for households.

Another negative report I have pasted in at the bottom of this blog, about the housing market. On the Island this grotty wet weather hasn’t helped the viewings – who wants to go viewing when you are going to get soaked, we need about 3 weeks of dry sunny weather to “boost” the market a bit.
Simon