Home Information Packs to cover all properties from 14th December, 2007

worldtraveller

Home information packs (Hips) will be required for all homes from 14 December, the government has said.

BBC News

Home Information Packs Government site (not yet updated at time of this post)

surfcat

crash crash crash! bring it on!

merlinthehappypig

Just what the already depressed market needed. You have to love the Government........

dave76

is that for properties put on the market after that date? What about properties that are in the process of being sold but not yet completed?

worldtraveller

dave76 wrote: »

is that for properties put on the market after that date? What about properties that are in the process of being sold but not yet completed?

When it applied to homes in England and Wales with 3 or more bedrooms after 10th September, 2007 it was those "marketed for sale from 10 September will require a HIP". I imagine it will therefore be the same for the 14th December, but I cannot be sure as the Hips site is not updated yet.

The current site details state the following:

You do not need a Home Information Pack for:

• Properties where there is no marketing (e.g. sale to member of your family)
• Non-residential properties
• Seasonal and holiday accommodation
• Mixed sales (e.g. shop with flat)
• Right to buy and similar sales
• Sales of portfolios of properties
• Properties not being sold with completely vacant possession
• Unsafe properties and properties to be demolished.
• Properties already on the market when the duty to have a Pack arises (1 August for sales of homes with 4 bedrooms or more, and 10 September for sales of homes with 3 bedrooms or more)
• New homes built under Part L of the Building Regulations 2006 (these will be brought in by a separate commencement order in due course)

http://www.homeinformationpack.gov.uk/consumer/60_Do_I_need_a_Pack.html

hgllgh

More bad news for EA's! Could be the nail in the coffin... transaction volumes are going to drop of a cliff

chriserenity

dave76 wrote: »

is that for properties put on the market after that date? What about properties that are in the process of being sold but not yet completed?

Top notch post on the HIP excluded properties worldtraveller!

Regarding 1&2 bed properties marketed prior to 14th December you were correct in assuming the same rules apply as with larger properties. A HIP will not be required as long as there is no break in marketing up to a point. This point or 'drop dead date' has not yet been announced.

Savvy buyers might wonder whats wrong with larger properties without HIPs as the fact they don't have them shows they've been on the market a while (we've had this comment from buyers and estate agents more than once)!

4 beds and above introduced on 1st August
3 beds introduced 10th September.

Something to think about?

gps_2

one thing i thought is that at least only sellers that really wish to sell (i.e not just testing the market) will put the homes on in the new year now.

this may help stem the flow perhaps of any panic selling?

(seems a well timed and slightly cynical move by the government to me);)

i am not an expert, just my feeling on this when i saw it on the news.

david29dpo

There could be a rise in 1 & 2 beds going on the market, same as 4 beds in august and 3 beds in September, to avoid having a hip. Its goodish news for FTBs, it may save them the cost of the searches, all of £150-£175!! but its better than nothing.

BrixMorta

Just think about the date – 14th December. It’s such an unusual date that there has to be an ulterior motive. The government wants to avoid a rush to sell as was seen with 3 & 4 bed homes and therefore ensured that the scheme is implemented at the least favourable time to market properties in the year.

chriserenity

BrixMorta wrote: »

Just think about the date – 14th December. It’s such an unusual date that there has to be an ulterior motive. The government wants to avoid a rush to sell as was seen with 3 & 4 bed homes and therefore ensured that the scheme is implemented at the least favourable time to market properties in the year.

Perhaps. I've given up trying to mind read HMG with regards to HIPs. I've taken to rolling with the punches rather than looking to see where they're coming from as what they do and what they say are two distinct things!