Tag: Home Information Packs

Connells reports surge in seller confidence

Connells reports surge in seller confidence

Connells Survey & Valuation has reported a surge as seller confidence in June, the first clear month in which Home Information Packs have been abolished. The nationwide property valuation service saw a 20% rise in valuations, compared with a year earlier, taking volumes in the second quarter of 2010 up 13% on the same period […]

July 6, 2010 More
House prices hold their own as new instructions rally

House prices hold their own as new instructions rally

The Royal Institution of Chartered Surveyors (RICS) has reported a rise in stock levels on estate agents’ books, following last month’s abolition of Home Information Packs. In May 21% more RICS members reported a rise, rather than a fall, in new instructions, up from 11% in April. In addition, 22% more chartered surveyors reported a […]

June 15, 2010 More
House prices register May dip

House prices register May dip

House prices dipped by 0.4% in May, following a 0.1% decline in April, Halifax has reported. However, taking an average of the latest three months, the value of the typical home increased 6.9% on the same period of 2009, reflecting the biggest annual rate of change since October 2007 (8.9%). Prices are therefore 8.3% above […]

June 4, 2010 More
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
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
Child Trust Funds/tax credits to be scaled back under new Government

Child Trust Funds/tax credits to be scaled back under new Government

As the new Coalition Government gets underway, it has been revealed that Child Trust Funds (CTFs) will be reviewed and while full details are not yet clear, it is believed that payments will only be made to families with household incomes of less than £16,000 a year. CTFs were introduced in 2005 and have been […]

May 14, 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
HIPs cost homesellers £657.6m

HIPs cost homesellers £657.6m

New figures from The Conservative Party claim that around two million house sellers have so far stumped up a combined £657.6 million for Home Information Packs (HIPs). The packs were phased in during 2007, just as the UK property market began to crumble, and their usefulness has remained in question as they do not contain […]

December 4, 2009 More
Estate agents profit from secret HIP commission

Estate agents profit from secret HIP commission

An investigation by Channel 4 News claims that up to £100 is being added to the cost of some Home Information Packs (HIPS) to line the pockets of estate agents. In one case cited by the programme, a homeowner was paying almost £150 more for a pack than the price originally quoted by the HIP […]

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 […]

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 […]

Minister acknowledges HIPs not fulfilling potential

Minister acknowledges HIPs not fulfilling potential

Recently appointed housing minister, Margaret Beckett, has made reference to weaknesses in the Home Information Pack (HIP) scheme in an address to the House of Commons. The minister made it clear that HIPs are here to stay but acknowledged shortcomings in the scheme mean that the full potential of the packs has not been achieved. […]

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 […]

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 […]