The introduction of Home Information Packs for house buyers seems like a good move, but they are only to be made compulsory from June 1st 2007.
The packs include a survey, land registry details and answers from the seller and the local authority to standard questions, and aim to cut the cost and simplify the process of buying a new home. Apparently £1 million per day is wasted on failed housing transactions. Solicitors will be taking a fair slice of this, so they’ll probably not like this news.
For me, anything that can speed up and simplify the home-buying process is a good idea. It’s just a pity that it is to take so long for these packs to become compulsory.