Home Information Packs Newsletter | Issue 4

News from the Home buying and selling team

This is issue 4 of the Home Information Packs (HIPs) newsletter which aims to keep you up to date with the latest news and progress. Further information is also available on the HIPs website and for consumers on the DirectGov website. To subscribe to this newsletter, please register on the Have your say area of the HIPs website.

Housing Minister announces measures to benefit consumers

Housing Minister Rt Hon Margaret Beckett MP announced on 8 December a new package of measures to improve and simplify the content of HIPs and ensure consumers can see and use the information at the start of the home buying and selling process. Measures include:

  • introduction of a Property Information Questionnaire providing basic, useful information about a property including a leasehold summary, within HIPs for all properties marketed for sale from 6 April 2009
  • from 1 January 2009 making permanent the current arrangement whereby a copy of the Lease is the only additional requirement in the HIP for leasehold property sales
  • the removal of temporary first day marketing from 6 April 2009 which means a basic' HIP must be in place before a property is marketed - providing certainty to consumers that a HIP will be available. This will not prevent agents advising clients about properties they expect to be coming onto the market
  • ending the use of insurance in personal searches from 6 April 2009 so that consumers receive a better quality product to address the issue of buyers being advised to undertake a 'second search' as a consequence inviting Ted Beardsall, former Deputy Chief Executive of the Land Registry, to convene a working group to consider how property searches might be made simpler and more easy to use for consumers and establishing a working group to explore options for making sure that consumers have appropriate information on property condition, building on work by the Stakeholder Panel to develop market-led models that can be delivered by existing practitioners, including Home Inspectors.

What the Minister says

Mrs Beckett said:

"Home Information Packs are potentially a vital aid to consumers who are seeking to purchase a home, and I am firmly committed to ensuring they work as well as possible. That is why the changes made today will make sure consumers are better protected, better informed and better assisted when buying a home.
It is essential that all buyers are able to see the HIP as early as possible to ensure they are benefiting and sellers are getting the pack they are paying for".

Read the full text of the Minister's statement.

Communities and Local Government will prepare and communicate advice to help consumers and industry understand and plan for the changes.

Office of Fair Trading (OFT) launch home buying and selling study

OFT announced on 8 December a market study to look at home buying and selling in terms of:

  • competition on price and quality between service providers
  • prospects for new entry by, in particular, internet property retailers and extent to which consumer interests are protected by the existing regulatory framework

Ahead of the study OFT will write to key stakeholders to seek views and to discuss the scope and scale of the study, which will commence in early 2009.

Changes to the Home Information Pack website

The industry side of the Home Information Packs website is moving over to the BusinessLink website at the end of December 2008. BusinessLink aims to help businesses save time and money by providing them with access to clear and simple information. It is developed in partnership with subject experts within government and relevant business support organisations to help businesses comply with regulations and improve performance.

Industry information about HIPs will sit within the Health, Safety & Premises section of the BusinessLink website.

Other news

Consultation responses

The summary of responses to the consultation paper Improving Consumer Information in the Home Information Pack, published on 29 July 2008.

The summary of responses to the Local Authority Property Search Services paper and the Local Authorities (Charges for Property Searches) (England and Wales) Regulations paper is also available to view.

 

By using this site you agree to our terms and conditions.
The Association of Building Engineers is a company limited by guarantee, registered in London, No. 384 609