HIPs not as successful as predicted

When the controversial Home Information Packs came into force last year government officials and those involved with the implementation of these packs said that they were designed to make the whole process of selling and purchasing a home smoothers and simpler. However, a recent report suggests that these HIPs are not proving as effective as had been hoped.

HIPs are now compulsory for any residential property that is being marketed for sale in England and Wales, but the report shows that only one in six potential purchasers actually sees the HIP before making an offer on the property.

This is despite government claims that HIPs help to safeguard the consumers when purchasing a property.

Caroline Flint, the housing minister, recently stated: ‘What is clear from the trials is more buyers wanted to see the Hip but it was not always made available to them. We have taken action to increase awareness of the right to see a Hip and to remind agents of their responsibility to provide one. Consumers are benefiting. Search costs are falling, first time buyers are receiving important information.’

However, the shadow housing minister has not mirrored this opinion, stating that HIPs have always been a waste of time, causing hassle and delays when it comes to selling a home.