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All you need to know about HIPS...

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What's wrong with the current system?

  • Currently, one million pounds a day is wasted on failed transactions and buyers often spend hundreds of pounds on valuations, legal advice and searches on transactions that ultimately break down. By providing key information at the beginning of the process, Home Information Packs will prevent waste and significantly cut the number of sales that fall through
  • survey carried out when buying a home.
  • Only between 20 and 30 per cent of buyers carry out a survey at all - that's 7 out of 10 people who do not
  •  Nearly 30 per cent of transactions collapse after terms have been agreed
  • Over 40 per cent of failed transactions collapse because of an unfavourable survey or valuation inspection, so property condition is a major reason for failure
  • Only 2 per cent of buyers have a full structural