The Council of Mortgage Lenders (CML) has stated that the government must look into Home Information Packs (Hips) and the impact they will have on the housing market.

The Council of Mortgage Lenders (CML) has stated that the government must look into Home Information Packs (Hips) and the impact they will have on the housing market.

Costing between £650 and £1,000, the packs will become compulsory from June 1st 2007 for people in England and Wales who decide to sell a house or flat. Under the scheme, people selling their home will have to assemble a home condition report (HCR) containing information about the property on offer.

The CML believes that both the government and the public need to understand that most properties will still require an independent valuation inspection, regardless of the benefits of the HCR.

It is also concerned that the government has not yet published a detailed timetable for the implementation of the packs, "without which it is difficult to have confidence in the process at all".

CML director general Michael Coogan said the government had to appreciate the "huge changes" the implementation of Hips would have on the housing market.

"The government must examine what impacts the packs will have so that all stakeholders can be prepared for their onset," he said.