The Hobbs Parker Blogs

Today, in keeping with the pre-election promises of both the Conservatives and Liberal Democrats, the coalition government has formally announced that the highly controversial Home Information Packs (HIPs) have been suspended.

Grant Shapps MP, newly appointed as Housing Minister, said the end of HIPs meant “that home sellers will be able to get on with marketing their home without having to shell out hundreds of pounds upfront.”  He commented further that the new government are “committed to greener housing so from now on all that will be required will be a simple energy performance certificate".

Reacting to the news, Alex Davies from Hobbs Parker Country Houses, said it was a welcome decision that was likely to boost liquidity in the housing market. “In the Ashford area, the step is likely to be greeted with applause as HIPs have never achieved a ringing endorsement from sellers and have done little to excite buyers. Thankfully the new Government has been decisive on this issue and it will hopefully encourage sellers wishing to offer their properties for sale to do so without hesitation.”

“However”, Mr Davies warned, ”sellers should not be complacent. Buyers still need to seek reassurance in the home buying process and as many are now accustomed to the availability of pre-contract documentation, sellers should still consider instructing their legal advisor early on in the marketing process to assemble the paperwork so that the transaction can get off the starting blocks quickly once a buyer has been found. Whilst controversial, there is no disputing that buyers’ solicitors could commence some of the conveyance work when a HIP was available. A lack of information slows it down.  Well-informed buyers are more confident about the purchase process and break fewer deals.”

Posted by Sally Randall