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Home Information Pack Provision - Latest

Published by Andrew Morris on Monday, June 11th, 2007 at 8:53 am

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As predicted by the National Association of Estate Agents, the Royal Institution of Chartered Surveyors, the Law Society and the Building Societies’ Institute the Home Information Pack (HIP) and the Government’s proposed implementation has been turned into turmoil with the Government’s latest announcement that the Home Information Pack requirement has now been put back to 1st August 2007.

Even then, the implementation of the HIP will only apply to four-bedroomed property as the Government stutters over its own proposals.

It appears that at the announcement by Ruth Kelly in the House of Commons late in May there were insufficient Energy Performance trained assessors to enable the implementation of HIPs to take place on 1st June.

The Government have, therefore, delayed the implementation until 1st August. Furthermore, the Government have reassessed the situation over First Day Marketing and agents will be allowed to commence marketing of a property providing they have instigated the preparation of a Home Information Pack with a pack provider.

Many members of the National Association of Estate Agents and other stakeholders are still of the opinion that further delays could be created and there is still an air of no confidence in the proposals going forward for 1st August as the proposed new date for the implementation of the Pack. Certainly the delay means that the Government are not ready for the implementation and the major stakeholders would really welcome an opportunity of going back to the drawing board with the Government to try and agree a way forward as certainly the National Association of Estate Agents in particular have been telling the Government for some years that Home Information Packs are not the way forward to try and progress the smooth running of a property transaction.

When it was first mooted to bring in Home Information Packs it was to prevent gazumping and to try and enhance the time-span of a property sale and purchase. Certainly, as all the major stakeholders have said over the past years, a Home Information Pack is not the answer and they have all been proved quite correct as the Government have stalled and stuttered once again.

The next two months will be interesting to see what is announced as the way forward but a meeting between the major parties would be the best way forward for all concerned particularly as the consumer may well be asked to pay a price of between £300 and £600 for a Home Information Pack to be prepared.

As before, in our previous reports, it was “watch this space” as of 1st June. It will now follow on that it will be “watch this space” as of 1st August! However, all property not categorised as a four-bedroomed property will continue to be allowed to be marketed without a Home Information Pack so it is very much a case for all estate agents and those in the profession of carry on regardless at the present time.