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News Tag: HIPs

May 31, 2010

House sellers liberated by demise of HIPs

by Gill Montia
”House
The Government's decision to scrap Home Information Packs (HIPs) has resulted in a surge of new instructions. The UK's biggest estate agency has reported that the number of homes being put up for sale has risen by a third since 20th May, when ministers called time on the packs. According to Countrywide, new instructions are up 68% compared with the same period ...




May 26, 2010

Little evidence of ‘spring bounce’ say BBA

by Kay Mitchell
Little evidence of ‘spring bounce’ say BBA
The British Bankers’ Association (BBA) has today revealed a marginal rise in the number of new mortgages approved by the major banks in April. According to the BBA, mortgage approvals for the month stood at 35,729 - up by just 685 on March. The BBA said there is little evidence of the traditional "spring bounce" with net mortgage lending by ...




May 20, 2010

HIPs suspended from 21st May 2010

by Gill Montia
”HIPs
Home Information Packs (HIPs) will no longer be required for house sellers from tomorrow, 21st May 2010. The costly packs were introduced in 2007 in England and Wales, despite strong opposition from the Royal Institution of Chartered Surveyors (RICS) and National Association of Estate Agents. A final good-bye to the HIP involves legislative changes and the immediate reprieve takes the form of a ...




May 13, 2010

HIPs to go as coalition government takes charge

by Gill Montia
”HIPs
The Conservative/Liberal Democrat coalition government has confirmed that it is proposing to scrap the unpopular Home Information Pack (HIP), while retaining energy performance certificates, which are required under European law. HIPs were introduced in 2007 despite strong opposition from the Royal Institution of Chartered Surveyors and National Association of Estate Agents, who argued that the packs were useless as they ...




April 21, 2010

Researcher corrects claims for HIP impact on transaction volumes

by Gill Montia
”Researcher
On 6th April, Finance Markets published an article entitled "HIPs get all-clear on influencing sales volumes" reporting that the Association of Home Information Pack Providers (AHIPP) had announced there has never been a correlation between the number of new properties put up for sale and the introduction of the HIP. However, researcher Ipsos MORI, which conducted the study used ...




March 19, 2009

New HIPs law will slow down house sales

by David Masters
New HIPs law will slow down house sales
New government legislation on Home Information Packs (HIPs) will cause home sellers 'significant delays' in getting their property to market, The Nottingham warned this week. The East Midlands-based building society warned that the new legal status of HIPs will make home-selling a 'major logistical exercise'. From 6 April, all home sellers will be required to have a completed HIP available before ...




March 4, 2009

MPs slam DCLG on eco-towns and Hips

by Gill Montia
MPs slam DCLG on eco-towns and Hips
MPs have slammed the government department that has responsibility for UK housing issues. In a newly published report, a committee reviewing the work of the Department for Communities and Local Government (DCLG) has concluded that the government body lacks the skills needed to formulate the policies for which it is responsible. The taxpayer has been let down on eco-towns, home information packs ...




December 9, 2008

Minister tightens rules on Hips

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 ...




August 27, 2008

Slow house sales put Hip searches out of date

by Gill Montia
Slow house sales put Hips searches out of date
The National Association of Estate Agents (NAEA) is demanding a review of Home Information Packs (Hips) because the slowdown in the housing market means that some of the packs are out of date before a property is sold. The packs were intended to simplify and speed up the house selling process but the majority of estate agents opposed ...




August 4, 2008

Homesellers and estate agents dodge HIPs

by Gill Montia
Homesellers and estate agents dodge HIPs
It has come to light that not all homes being offered for sale have Home Information Packs (HIPs). According to the president of the Law Society, Paul Marsh, some estate agents and vendors, worried about the slowdown in the property market, are delaying the completion of HIPs until a sale has been agreed. The packs cost between £300 and £400 for the average ...




July 30, 2008

HIPs to be improved with new questionnaire

by Gill Montia
”HIPs
The Government wants to improve Home Information Packs (HIPs) to reduce the likelihood of problems emerging well into the sales process. Under the proposals, HIPS could include a property information questionnaire that would relate to such issues as building work carried out, energy and utility suppliers, parking arrangements and Council Tax banding. A consultation has been launched to establish what changes are needed to make the buying ...




June 18, 2008

Carsberg Review recommends optional HIPs

by Gill Montia
Carsberg Review recommends optional HIPs
A new report on the residential property sector in England and Wales is recommending a number of reforms for the property buying and selling industry. The Carsberg Review was commissioned by the Royal Institution of Chartered Surveyors, the National Association of Estate Agents (NAEA) and the Association of Residential Letting Agents. It criticises the system of voluntary regulation in the residential property sector for ...