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HIPs Clarification
Comments
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david29dpo wrote: »But will a lender accept a HCR done on behalf of a vendor?
NO! This is what I'm getting at....it benefits neither Vendor or Purchaser!My home is usually the House Buying, Renting and Selling Forum where I can be found trying to (sometimes unsucessfully) prove that not all Estate Agents are crooks. With 20 years experience of Sales/Lettings and having bought and sold many of my own properties I've usually got something to say
Ignore......check!0 -
No. When first trialled in Bristol they were going to be valuations then all the mortgage companies said "get stuffed" to the idea. So that got watered down into the HCR. Then you get my argument, why would a buyer believe a HCR done by someone with 12 months training and paid for by the seller? Hence I'm always on at the pro HIP lobby to tell me how much their professional indemnity is, because surveyors pay a significant amount for theirs and they are an old established profession where membership has to be gained by 6+ years training. Now, if you were an insurer, who's you money on to get it right?david29dpo wrote: »But will a lender accept a HCR done on behalf of a vendor?
I am very suspicious that the HIP inspector business model fails when you start factoring in realistic insurance costs and the "one man band" won't survive. Pity about all that training they paid for.A house isn't a home without a cat.
Those are my principles. If you don't like them, I have others.
I have writer's block - I can't begin to tell you about it.
You told me again you preferred handsome men but for me you would make an exception.
It's a recession when your neighbour loses his job; it's a depression when you lose yours.0 -
Back to my original posting - no need for a HIP thus far for those properties marketed prior to 1st August (4 bedroom) and 10th Sept (3 bedroom). Money saving advice. I think thats what this forums about. I will continue, unabated, to offer advice or recommendations should I come across anything worthy of posting. I thought this was, so I did - hope this saves someone some money.0
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When you have the time, have a look back through this forum because there's lots been posted over the years about HIPs.Bob - I've done my best here and given as much info as I possibly can. There is no more that I can say - you take it or leave it (I think I can guess which you will choose!).
I said long ago that they will be wrongly marked down in history as the start of the downturn in house prices in the UK. HIPs are a complete waste of time except for one thing - timewasting sellers. Otherwise they are a government bodge to introduce the energy measurements they agreed to do for the EU, disguised as an improvement to the house buying process ( something which Labour had as an election promise back in the 90s). All that has happened since is a series of failures, u-turns and spin to cover the fact that they won't and don't work. The government doesn't mind much though because there's VAT on everything involved and a few thousand people not on the dole ( yet?).A house isn't a home without a cat.
Those are my principles. If you don't like them, I have others.
I have writer's block - I can't begin to tell you about it.
You told me again you preferred handsome men but for me you would make an exception.
It's a recession when your neighbour loses his job; it's a depression when you lose yours.0 -
For those of you who currently have a property for sale which was marketed prior to the HIPs requirements dates of 1st August (4 bed and above) or 10th September (3 bed), the following may be of some use to you.
You WILL NOT require to have in place a Home Information Pack by 1st January 2008. The Government has NOT set a date for these properties to comply with the new HIPs regs. If you are being told otherwise by your estate agent - THEY ARE WRONG!!!!:mad:
Evee - I'm not so sure, the government have made such a mess of introducing HIPS with last minute reversed decisions and redirections that I don't think you can be so positive that the 1 January date is extinguished - this was the date set in the original draft of the Home Information Pack Regulations 2007 under the transitional arrangements for HIPS when they were supposed to come into force on 1 June, and to my knowledge this date has not been rescinded in respect of the changed implementation dates for 3 and 4 bedroom properties.
The revised start date for HIPS (4 beds) and HIPS (3 beds) were implemented on little more than press releases from Ruth Kelly's office. The reference you make to the official government website wording, merely states the option the government give themselves to set a date - it most certainly does not state that the drop dead date given in the original regulations is no longer valid....0 -
courtjester wrote: »Evee - I'm not so sure, the government have made such a mess of introducing HIPS with last minute reversed decisions and redirections that I don't think you can be so positive that the 1 January date is extinguished - this was the date set in the original draft of the Home Information Pack Regulations 2007 under the transitional arrangements for HIPS when they were supposed to come into force on 1 June, and to my knowledge this date has not been rescinded in respect of the changed implementation dates for 3 and 4 bedroom properties.
The revised start date for HIPS (4 beds) and HIPS (3 beds) were implemented on little more than press releases from Ruth Kelly's office. The reference you make to the official government website wording, merely states the option the government give themselves to set a date - it most certainly does not state that the drop dead date given in the original regulations is no longer valid....
Hi Courtjester
This information has been confirmed with the CLG - it is absolutely correct. I've provided the contact number if you would like to independently validate what I have said.0
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