Home Information Pack (HIP) providers have joined forces to offer home sellers a deferred payment scheme. The idea behind the scheme is that vendors enter into a 10 month deal where they only pay for theHIPs they request once the sale of the subject property has completed.
From today anyone marketing a property with three-bedrooms must now provide a [tag]Home Information Pack[/tag] (HIPs). This follows the introduction of Home Information Packs for four-bedroom houses from the beginning of August.
The government has announced that the Home Information Pack scheme (HIP's) will be extended to cover 3 bed houses from 10 September 2007.
Despite opposition to the initial introduction of HIPs the government has decided to push ahead with the expansion of the scheme. The Home Information Packs were originally scheduled to be introduced for all homes from 1st August 2007, but after a farcical u-turn in July only 4 bed houses were initially covered.
[tag]Home Information Packs[/tag] are now not going to be mandatory until 1st August 2007, although only properties with four or more bedrooms are going to need them. Cynics of the way that the whole matter has been handled have even suggested that the final decision about the future of HIP's and [tag]Energy Performance Certificates[/tag] (EPC's) will be delayed until Gordon Brown takes over.
Are [tag]HIP's[/tag] delayed or cancelled? The government (in the form of Ruth Kelly) has now said that [tag]Home Information Packs[/tag] will be required for all properties with four bedrooms or more from 1st August 2007. The whole affair has been an embarrassment to the government, with the original proposals stripped to the bare bones.
Some of the companies who have invested the most in the provision of Home Information Packs have started to release so of their pricing plans. LMS are believed to be the first to market with their offering. Their report will consist of an Energy Performance Report (EPC) and all the necessary local searches.
Estate agents, mortgage brokers, and solicitors are all well aware of Home Information Packs (HIPs). But how many consumers are aware of what's install for them when the new regulations come into force on the 1st June 2007.
