Home Information Packs launched 1st August

Permalink: Home Information Packs launched 1st August
by Elaine Frei

The Home Information Packs (Hips) have finally been launched and estate agents have been warned by The Office of Fair Trading not to encourage home sellers to bend the rules. From 1st August, all homes of 4 or more bedrooms which go up for sale on the open market must have a Home Information Pack, known as a Hip.

A spokesperson for The Office of Fair Trading commented that it is important that agents are aware of their obligations and the possible consequences if they fail to conform.

The Hip contains an assessment of the property’s evidence of ownership, information from local searches, copies of any planning or building consents and the property’s energy efficiency.

The packs have caused controversy amid claims that they have been poorly thought out and haphazardly implemented. A spokesperson for the Association of Home Information Pack Providers said that Hips should be welcomed but groups ranging from political parties to price comparison websites have been critical of the scheme. Moneysupermarket.com described Hips as a political slurry.

Yvette Cooper, housing minister has called for calm, insisting that the packs provide vital information to potential buyers in the UK housing market and called the initial launch a transitional period.