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Home Information Packs have been suspended
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The Government has announced the suspension of Home Information Packs with immediate effect from 21 May 2010.

Homes marketed for sale on or after 21 May 2010 will no longer require a Home Information Pack (HIP).

The Energy Performance Certificate (EPC) will be retained. Sellers will still be required to commission, but won't need to have received an EPC before marketing their property.

Steve Lees, Head of Marketing for Email4Property.co.uk, comments on the suspension of Home Information Packs:

“The estate agent community will welcome the new coalition government’s speedy response to dealing with the industry’s number one bugbear.

“HIPs have reaped little reward for the buyers they were supposed to help as well as creating additional work for estate agents, but their immediate suspension is likely to provide an additional boost to the market’s recovery. A number of homeowners, who in the last few weeks have delayed selling their property for fear of incurring the additional costs and untimely delays associated with HIPs, will now be tempted back into the market off the back of today’s announcement.”

See Also:   (6711), (2), (10)

Date Published: 21 May 2010

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