Thursday, 20 May 2010

HIPs to go – at last….

OK – I predicted the demise of HIPS prematurely (see HIPS will go - but when... ) – but the new coalition government has today suspended the use of Home Information Packs (HIPs) by home sellers.

Introduced in 2007, the aim was to speed up the house selling process by obliging sellers to provide much of the required conveyancing information when properties are first put up for sale.

The packs were paid for by sellers and contained property information, title deeds, and local searches. But in practice many prospective purchasers ignored the HIP whilst making their decision, and actual purchasers resorted to getting their own local authority searches.

"Today the new government is ensuring that home information packs are history," said Housing Minister Grant Shapps.

"By suspending home information packs today, it means that home sellers will be able to get on with marketing their home without having to shell out hundreds of pounds upfront. We are committed to greener housing so from now on all that will be required will be a simple energy performance certificate" he added.

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