|    FM Home   |    FM News   |    FM Forum   |    FM Blog   |    17th of January 2018
|   Banking  |   Insurance  |   Property  |   Mortgages  |   Economy  |   Investments  |   Credit Cards  |   Debt  |   Loans  |   Pensions  |   Companies  |  

Property News feed Property News

All Financial News feed All Financial News

Minister tightens rules on Hips

Bookmark and Share

by Gill Montia
Minister tightens rules on Hips

Housing minister, Margaret Beckett, stands accused of putting additional pressure on homeowners by changing the rules that govern Home Information Packs (Hips).

Currently vendors can market their properties without a Hip providing they have made arrangements for one to be available within 28 days, however, from 6th April 2009 a pack must be available from the first day of sale.

Also from next year, Hips will need to include a property information questionnaire that relates to such issues as building work carried out, energy and utility suppliers, parking arrangements and Council Tax banding.

Vendors will be responsible for supplying the information, which according to Hip enthusiasts will reduce the likelihood of problems emerging well into the sales process.

The government argues that Hips speed up the house selling process but the scheme, which was introduced during 2007/08, has been strongly opposed by many homeowners and housing market experts.

A pack cost around £300 for an average property and estate agents found to be marketing properties without one are liable for a fine.

Discuss this in the Finance Markets forums

Story link: Minister tightens rules on Hips

News posted: December 9, 2008

Financial Services:

Related financial stories to: Minister tightens rules on Hips:
Previous: «
Next: »

Visited 3269 times, 4 so far today

No Comments

No comments yet.

RSS feed for comments on this post.

Sorry, the comment form is closed at this time.

Tags: , ,