One in four homeowners would consider lying on a Home Information Pack application in order to get round the system, according to Saga Home Insurance.
Research conducted by Saga, found when HIPs become compulsory for houses with four bedrooms or more in August, 74% of people would say their four bedroomed house comprised ‘three bedrooms and a study’.
The cost of an average HIP is expected to be between £400 and £700 but re-classifying a bedroom as a study can knock as much as £121,000 off the value of a property.
Saga have claimed that today’s research shows the high level of resilience to HIPs among British homeowners as only 3% claim to have lied to sell their home in the past. Half of all respondents were against HIPs because they felt that the current process is adequate, and 74% thought that HIPs should contain a home survey, as a way of keeping overall costs down.
Commenting on the findings, Andrew Goodsell, chief executive of Saga, says: “We have been all too aware of the trials and tribulations concerning the introduction of HIPs. We are absolutely supportive of any measures aimed at simplifying and speeding up the home-buying process but it’s clear that the general public still need convincing.”
The research also revealed that half of all purchasers would not trust the contents of a HIP, and 47% of all homeowners have said that they are against HIPs.
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