Hips Extended To All Homes

Friday December 14, 2007

Home Information Packs will be rolled out to cover all properties in England and Wales from today.
It means everyone selling a home will now have to provide a pack for prospective buyers.
Among other documents HIPS will need to include an energy performance certificate and standard searches.

They are designed to speed up the buying process and cut the number of transactions that collapse late in the day.

But critics say they will distort the housing market and lead to a fall in the number of starter homes put up for sale.

They also insist they will make it harder for people to get on to the property ladder.
But Independent research commissioned by the Government found no evidence of any impact on transactions, prices or mortgages.