Government amends controversial Home Information Packs

Posted under General by Michael

The slowdown in the housing market has compelled government to make changes to the bitterly criticised Home Information Packs (HIPs) which were introduced last year and were branded as a waste of time.

The National Association of Estate agents had requested review of HIPs to help the sagging housing market. The agents had reported that they could sell less than one home per week in London, the South-West and the South-East.

As per the government’s announcement, validity period of the energy performance certificate was being extended to three years from existing one year, with effect from October 2008. A Hip contains energy performance certificate and title deeds and costs £350 to the sellers.

The spokesperson for Department for Communities and Local Government (DCLG) commented that extension of validity period would increase flexibility for the sellers.

The old packs were strongly defended by DCLG insisting that it assisted families in saving on fuel costs and minimising carbon emissions.

Amendment to the rule was announced after the Royal Institution of Chartered Surveyors (Rics) in its report warned that the UK housing market was heading for virtual paralysis. Rics reported that housing sales in August were at their lowest level ever witnessed in last 30 years.

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