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10/12/2008
New Hip proposals announced |
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From April 6th, any homeowner that markets their property must have a valid Home Information Pack (Hip) from the start.
Under previous guidelines, sellers had 28-days leeway after their home went on sale to obtain a Hip but housing minister Margaret Beckett claims that this meant some buyers could lose out during this window.
Pursuant to the changes, sellers will be required to have the basic Hip before their home is marketed - which is expected to take three to five days to compile.
Margaret Beckett said: "It is essential that all buyers are able to see the Hip as early as possible to ensure they are benefiting from this important information and that sellers are getting to see the pack they are paying for."
The new packs include a Property Information Questionnaire that contains flood risk information, gas and electricity safety, service charges, structural damage and parking arrangements.
Meanwhile, the Conservatives have been vocal in their criticism of Hips and have said they will abolish the system if they win the next general election.
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