The Demise of the Home Information Pack
25/05/10
The Demise of the Home Information Pack
Tuesday 25th May 2010
As expected the change of government has brought about the end of the Home Information Pack (HIPS).
On 20 May Eric Pickles, the new Communities Secretary made the announcement which is hoped will tempt more people into putting their house on the market.
Nigel Sherwood, Property Partner makes the following observations;
With any amount of luck this will be a real boost to the housing market and hopefully will remove a barrier to people putting their homes up for sale. The experience of HIPS has not been a happy one and it has failed to achieve the desired expectations of those in government who felt the concept would bring such a boost to the market.
As so often with modern legislation, not enough attention was given to the implications of its introduction and here in Stroud, it has meant a significant backlog in local search applications resulting in lengthy delays before search results are being issued. The desire to speed up the conveyancing process has therefore backfired completely for a number of sellers and buyers.
The fact that sellers can now, once again, put their property on the market without it costing them an arm and a leg to do so, must be a step in the right direction.
This article provides general advice and cannot be relied upon in any particular case.
For further information please contact Nigel Sherwood on 01453 847200 or njs@aeswinterbothams.com.