Hips providers petition for extension

The Association of Home Information Pack Providers is urging the Department of Communities and Local Government to extend the requirement for Home Information Pack (Hips) to all UK homes.

The controversial scheme has been apposed by Estate Agents, the Royal Institution of Chartered Surveyors and some mortgage lenders, who are questioning the validity of the searches contained in the packs.

Hips were introduced for four-bedroom homes in August of this year and the scheme was extended to three-bedroom dwellings in September.

The packs contain an energy performance certificate for the property, searches, evidence of title and a sale statement.

According to Mike Ockenden, director general of the Association of Home Information Pack Providers, there are now 5,000 accredited assessors, and Hip providers have proved themselves able to deliver an efficient and professional service.

Mr Ockenden believes that the full benefit of Hips will not be felt until the packs are required for all properties, as at this point they will speed up home buying and selling for all consumers. In addition, vendors will be treated equally.

Government figures show that when the scheme was extended to three-bedroom homes, the average time taken to complete a pack was five days, and the cost £300.

Discuss this in the Finance Markets forums

Story link: Hips providers petition for extension