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  • FIRST POST
    • MSE Guy
    • By MSE Guy 20th May 10, 9:30 AM
    • 1,628Posts
    • 1,255Thanks
    MSE Guy
    MSE News: Home Information Packs scrapped
    • #1
    • 20th May 10, 9:30 AM
    MSE News: Home Information Packs scrapped 20th May 10 at 9:30 AM
    This is the discussion thread for the following MSE News Story:

    "Sellers will no longer have to spend money on providing packs of information before they can market their property ..."

Page 1
    • Eenymeeny
    • By Eenymeeny 20th May 10, 9:36 AM
    • 1,874 Posts
    • 6,841 Thanks
    Eenymeeny
    • #2
    • 20th May 10, 9:36 AM
    • #2
    • 20th May 10, 9:36 AM
    What about people who are in the middle of obtaining them? I had inspection yesterday but my property hasn't been marketed yet? My estate agent says that they will probably be phased out.
    Please see update on the Hips to be scrapped thread...
    Last edited by Eenymeeny; 20-05-2010 at 9:59 AM.
    The beautiful thing about learning is nobody can take it away from you.
    Thanks to everyone who contributes to this wonderful forum. I'm very grateful for the guidance and friendliness that I always receive from you.

    Please and Thank You are the magic words
  • Wee Willy Harris
    • #3
    • 20th May 10, 10:02 AM
    • #3
    • 20th May 10, 10:02 AM
    "This action will encourage sellers back into the market and help the market as a whole"

    Just what a depressed housing market needs, more sellers. I wonder what people marketing their houses now would prefer. HIPS or more competition pushing offers down?
  • basmic
    • #4
    • 20th May 10, 10:18 AM
    • #4
    • 20th May 10, 10:18 AM
    "This action will encourage sellers back into the market and help the market as a whole"

    Just what a depressed housing market needs, more sellers. I wonder what people marketing their houses now would prefer. HIPS or more competition pushing offers down?
    Originally posted by Wee Willy Harris
    Who cares? Today's house prices are over inflated, and more competition forcing prices down is a good thing.

    I think it's daft seeing a council house for sale at say 80K, when I bet it never even cost 8K to build in parts and labour.
  • bunglejemson
    • #5
    • 20th May 10, 10:21 AM
    • #5
    • 20th May 10, 10:21 AM
    Dare I say it, but HIP HIP HOORAY!
  • Kau
    • #6
    • 20th May 10, 10:26 AM
    • #6
    • 20th May 10, 10:26 AM
    At last, we're looking to put our house on the market very soon. I'm glad they've scrapped this waste of money!
  • housesitter
    • #7
    • 20th May 10, 10:26 AM
    • #7
    • 20th May 10, 10:26 AM
    A rather stupid move.
    These packs are extremely useful for all buyers. It's puts the onus on the seller to provide information for all prospective buyers rather than hiding and hoping something bad in the searches wont put you off once you've spent some money.
    It also tells a buyer that the person selling the house is serious and not just speculating and wasting your time as they have had to spend money to market their house where as now you can do it for free!!
    Now a house many have many prospective buyers doing the same searches against it to find out the same information which puts them off. I suppose it's more money to the various agencies behind those searches.
    With a HIP the seller's cards were on the table and any dodgy goings on were there for all to read.

    As a buyer I always asked for the HIP of property I was interested in. They told me many useful things and I found details in more than one which put me off the house. To the extent that I would not have continued even if I had to pay for the searches. Only that I would have wasted a significant amount of money due to either the seller's dishonesty, or lack of their own searching when they bought it themselves.



    Now you will have buyers who are worried about throwing several hundred pounds down the drain on searches whilst strugling to obtain a deposit in the first place.
    All this has suceeded in doing is upping the barrier to FTB's and making it significantly more expensive to purchase a house for all buyers. The average buyer wont be making just a single set of searches.

    Labour had many policies which were plain wrong regarding the housing market, but this was the shining beacon of light in a sea of bad decisions and our new masters have just gone and sunk it.
    • Slinky
    • By Slinky 20th May 10, 10:27 AM
    • 6,069 Posts
    • 28,592 Thanks
    Slinky
    • #8
    • 20th May 10, 10:27 AM
    • #8
    • 20th May 10, 10:27 AM
    What about people who are in the middle of obtaining them? I had inspection yesterday but my property hasn't been marketed yet? My estate agent says that they will probably be phased out.
    Please see update on the Hips to be scrapped thread...
    Originally posted by Eenymeeny
    Ditto we had our inspection done on Tuesday. Haven't even had any paperwork through about it yet.
    • wornout
    • By wornout 20th May 10, 10:27 AM
    • 43 Posts
    • 7 Thanks
    wornout
    • #9
    • 20th May 10, 10:27 AM
    • #9
    • 20th May 10, 10:27 AM
    I only paid for mine on Tuesday and they left five minutes ago after doing it. 340 down the drain!!!!!!
  • Wee Willy Harris
    I only paid for mine on Tuesday and they left five minutes ago after doing it. 340 down the drain!!!!!!
    Originally posted by wornout
    Maybe not. That 340 you've spent represents a tangeable, up front saving to any prospective buyer and provides them with a certai n level of peace of mind. This will be of particular interest to FTBs who have already had to skrimp and save for their huge deposit.

    The end of HIPS may not be the good news sellers think it is!
  • Wee Willy Harris
    Who cares? Today's house prices are over inflated, and more competition forcing prices down is a good thing.

    I think it's daft seeing a council house for sale at say 80K, when I bet it never even cost 8K to build in parts and labour.
    Originally posted by basmic
    Whilst I agree that house prices are over-inflated, I just think that those selling houses "Hio Hip Hooray"ing at the prospect of saving a few hundred while having to drop their selling price by a few thousand are being a little bit short sighted.
    • Eenymeeny
    • By Eenymeeny 20th May 10, 10:41 AM
    • 1,874 Posts
    • 6,841 Thanks
    Eenymeeny
    I'm hoping to recover some of it. Apparently the land search costs about 150...
    The beautiful thing about learning is nobody can take it away from you.
    Thanks to everyone who contributes to this wonderful forum. I'm very grateful for the guidance and friendliness that I always receive from you.

    Please and Thank You are the magic words
  • JPS29
    I sit on the fence as to whether or not this is good news but I do feel sorry for the HIP inspectors. Most of whom will have set up on a self employed business as their main income only for the rug to be pulled from under them. I wonder if the govmt has made any provisions for these or not, also would be ironic if the HIPS inspectors had actually voted ConDem too......
    • heffsta
    • By heffsta 20th May 10, 11:08 AM
    • 45 Posts
    • 89 Thanks
    heffsta
    "This action will encourage sellers back into the market and help the market as a whole"

    Just what a depressed housing market needs, more sellers. I wonder what people marketing their houses now would prefer. HIPS or more competition pushing offers down?
    Originally posted by Wee Willy Harris
    Is that not the definition of a free market?

    More competition equals better prices, more choice.

    People will pay what the house is worth, seller wont sell it at that price, they have the choice of other properties.
  • MissMessy
    OMG was just about to pay for my hips online !!!!! Literally about to press the send button


    phew!!
  • Wee Willy Harris
    Is that not the definition of a free market?

    More competition equals better prices, more choice.

    People will pay what the house is worth, seller wont sell it at that price, they have the choice of other properties.
    Originally posted by heffsta
    Oh, I agree. But it seems to be the sellers who are celebrating. Turkeys voting for Christmas?
    • poppy10
    • By poppy10 20th May 10, 11:22 AM
    • 6,185 Posts
    • 7,496 Thanks
    poppy10
    What happens to all the people who trained as HIP assessors?
  • Sunshine12
    Does anyone know if Home Reports in Scotland are being scrapped too?
    • Cannon Fodder
    • By Cannon Fodder 20th May 10, 11:30 AM
    • 3,848 Posts
    • 6,208 Thanks
    Cannon Fodder
    Does anyone know if Home Reports in Scotland are being scrapped too?
    Originally posted by Sunshine12
    Don't think so. Another thread said HRs were introduced by the Scottish Executive, so not down to the UK Govt.
    Hi, we've noticed that you don't have a signature to remove. If you're not sure why please read the forum rules or email the forum team if you are feeling left out.
  • Wee Willy Harris
    Does anyone know if Home Reports in Scotland are being scrapped too?
    Originally posted by Sunshine12
    They are a separate entity and not directly effected by this decision. My opinion, and it is just an opinion, is that Scotland tends to have a more enlightened approach to housing generally, so I'd be surprised if they went.
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