HIPs roll out complete by 14th December
- 25th November 2007
- Selling Property News
All properties marketed for sale from 14th December 2007, in England and Wales, will need a Home Information Pack.
The housing minister, Yvette Cooper, has announced that all property sales must now be covered by a HIP, which must include an energy performance certificate, advice on how to cut carbon emissions and fuel bills. In addition title deeds, searches and any relevant documentation should be included.
The scheme, which was originally meant to launch in July, but was delayed by a month, at present covers around 60% of properties.
Commenting on the announcement, Jeremy Leaf from Royal Institute of Chartered Surveyors, says: “With prospective buyers and sellers currently taking a 'wait and see' approach to moving, activity in the housing market is grinding to a halt. The housing minister needs to understand that rolling Hips out to one and two bed properties could find first-time-buyers caught between a rock and a hard place as accessibility to the market would go off the scale."
Officially a HIPs package takes between seven and 10 days to prepare, however industry insiders believe it takes much longer period of time and on average cost between £300 and £500.
Rolling Hips out to one and two bed properties could find first-time-buyers caught between a rock and a hard place.
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