Homeowners would lie to avoid HIPs - Saga

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 f...