20 May 2010

The new coalition government has suspended the use of Home Information Packs (HIPs).

HIPs were introduced in 2007 in England and Wales to speed up the home selling process but were widely criticised by industry figures and customers alike. Home Information Packs are paid for by sellers and contain property information, title deeds and local searches.

Although HIPs may have been suspended home sellers will still need to purchase an Energy Performance Certificate (EPC), as this remains a legal requirement ahead of the sale. Home sellers will need to have commissioned an EPC as early as possible but will not need it available ahead of marketing the property, meaning that vendors will be able to list their homes without any initial delay.

Grant Shapps, Housing Minister, commented: “By suspending Home Information Packs today, it means that home sellers will be able to get on with marketing their home without having to shell out hundreds of pounds upfront.”

“We are committed to greener housing so from now on all that will be required will be a simple energy performance certificate,” he added.

Source: BBC

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