The proposed home information packs (Hips), set to be compulsory for the sale of residential property, are here to stay according to a leading expert.

The proposed home information packs (Hips), set to be compulsory for the sale of residential property, are here to stay according to a leading expert.

Speaking at the Council of Mortgage Lenders (CML) legal issues for lenders seminar, Jeremy Davy, partner at Shoosmiths Solicitors, said that the debate on Hips had moved beyond whether or not they would happen.

Hips are intended to speed up the process of buying and selling houses by informing buyers of the exact state of the property they intend to buy.

The government will create new methods of policing to ensure that the new standards are met and the responsibility is set to fall on estate agents. They could face on the spot fines of £200 if a property displayed in their window does not have a Hip.

"There is no getting away from it. There are no loop holes", warned Mr Davy.

Yet Mr Davy acknowledged there was a danger that some organisations would simply add the proposed cost of £850 of the Hips to the price of fees or the property itself.

If this was to happen then "the HIP concept will evolve or disappear".

The CML's figures out today announced record mortgage lending for December 2005, up 25 per cent compared to December 2004.