Posted: Friday, 15 January 2010 @ 17:00
The Conservative Party has pledged to scrap Home Information Packs (Hips) immediately in the event that they win the general election, which given their strength in the polls seems likely.
The original aim of Hips was to speed up the house buying process and to stop deals from “falling through” but most people involved in the property industry will agree that Hips in their current form have been a failure. In my own experience one of the biggest problems has been that by the time the property is sold the searches are out of date and the buyer ends up having to pay for insurance to protect the mortgage lender. This is exactly the opposite of what was originally intended.
The fate of the Energy Performance Certificate (EPC) is more certain. These will remain as a requirement of the EU to help meet targets to reduce carbon emissions. Competition between energy assessors though mean these can be obtained very cheaply.
Be warned though Hips will not disappear completely. A new improved version is likely to be introduced after much needed consultation. Your comments are welcome.
Commercial Property Solicitor
01926 629 005
For free advice on this topic please call us on 0845 003 5639.
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