May 26, 2010

The Home Information Pack, abhorred by many, may have reached the end of its short life as the long held Conservative Party pledge to abolish them was implemented in part by the Coalition Government on 20th May 2010. Owners will however still need to produce an energy performance certificate ("EPC") under EU legislation before putting their property on the market.

HIPs have been suspended with immediate effect pending the passing of legislation to abolish them permanently. Housing Minister, Grant Shapps, claimed that they were "pointless red tape that is strangling the market" and Communities Secretary Eric Pickles, that this "would encourage sellers back into the market and help the market as a whole and the economy recover". This remains to be seen! Industry reactions are mixed. Time sensitive searches aside, well prepared HIP's were often useful in preliminary pre bid reviews of property but rarely offered more than a well advised seller would otherwise have had available on immediate request from a buyer.

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