Tag: HIPs

House sellers liberated by demise of HIPs

House sellers liberated by demise of HIPs

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 […]

May 31, 2010 More
Little evidence of ‘spring bounce’ say BBA

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” […]

May 26, 2010 More
HIPs suspended from 21st May 2010

HIPs suspended from 21st May 2010

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 […]

May 20, 2010 More
HIPs to go as coalition government takes charge

HIPs to go as coalition government takes charge

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 […]

May 13, 2010 More
Researcher corrects claims for HIP impact on transaction volumes

Researcher corrects claims for HIP impact on transaction volumes

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 […]

April 21, 2010 More
New HIPs law will slow down house sales

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 […]

MPs slam DCLG on eco-towns and Hips

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 […]

Minister tightens rules on Hips

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 […]

Slow house sales put Hip searches out of date

Slow house sales put Hip 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 […]

Homesellers and estate agents dodge HIPs

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 […]

HIPs to be improved with new questionnaire

HIPs to be improved with new questionnaire

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 […]

Carsberg Review recommends optional HIPs

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 […]