The Opinion on HIP’s is Still Very DividedRecently the Independent had an interesting article on HIP’s (Home Information Packs) and how the new legislation involving them has been greeted by the industry.
For those of you who are unaware. HIP’s became compulsory for all homes being sold in England and Wales in December 2007. Reaction to the current legislation appears to be very mixed and the fact that the rules regarding these things are soon set to get even tighter just makes the situation even more interesting.
Essentially these HIP’s were introduced to try to make the sometimes tricky transaction of selling your home a bit simpler. They currently contain key information about the property such as the local authority, utility searches, copies of titles and Energy Performance Certificates. In a short time they will also contain information buyers often enquire about such as risk of flooding.
It is easy to see, at least theoretically, that these things should be useful but a lot of people in the industry have branded them a monumental waste of time. “They are good in theory but the execution has been so bad – frankly, they are a bit of red tape,” says Alan Thompson from conveyance specialist Act Legal.
I am not hundred percent sure whether the problem lies with the HIP’s themselves or rather with the system for putting them together I do think, however, that the award for fuzzy logic on the issue goes to Mike Ockenden, director-general of the Association of Home Information Pack Providers who has this to say: “If the packs were having such a negative impact on the market, why is there a record number of properties up for sale?
That would not have anything to do with a certain large recession we are having and the affect it has on people’s ability to pay their mortgage would it Mr Ockenden?
