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All you need to know about HIPS...

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The scaremongers got it wrong on sellers' packs but we're not home and dry yet

They may have launched to a barrage of criticism last August but home information packs are here to stay. And while vendors trying to sell their house this spring may have deeper concerns than compiling a report on their property – not least a lack of buyers – it will still be on their "to do" list because all homeowners in England and Wales now need to apply for a HIP before the "for sale" sign can go up. So what do they need to know?
 

HIP New Directory

Visit the Hip Zone - Home Information Pack directory to find a HIP provider. This directory's unique selling point is that it allows HIP providers and related businesses to bid themselves to the top and onto the front page of the site. This is similar to the system used by Google, but unlike Google there is no cost per click. Check it out; visit the the HIP Zone.
 

Dodgy HIPs Emerge

The Law Society has warned property buyers and sellers to be watch out for dodgy Home Information Packs (HIPs), after alarm were raised by the government that some dodgy Home Information Pack providers are putting in the wrong documents.

 

Call to continue Hips concession

Campaigners want sellers to keep the right to put their home on the market before their home information pack (Hip) is finalised.

At present owners can market their properties as soon as they have commissioned a Hip, but from June it will have to be completed first.

 

Tories label Hips a farce

Four out of five homebuyers taking part in a trial of the government's controversial home information packs (Hips) never actually saw a pack, or only did so after they had made an offer on a property, it has emerged.

 

Hips have mitigated home sale cancellations

Home sale cancellations declined since the introduction of home information packs (Hips), according to LMS.

Figures from the Hip provider show that cancellations of instructed sales dipped from 17 per cent at their peak during the summer to just 15 per cent up to December last year.

 

Low cost HIPs risks

It is becoming clear that low-cost Home Information Packs (HIPs) are causing concern and expense for sellers and buyers due to inaccurate content and missing documents.

The lack of awareness about HIPs has meant that most consumers are choosing the lowest-cost products possible. With providers being forced to cut prices to survive, the resulting compromises in quality are having a major impact on buyers who are being discouraged by incomplete information contained in a HIP, making them increasingly nervous about their purchase. Although most HIPs are legally compliant, this offers no guarantee that they are either complete or accurate.

 


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