Government Back-Track on HIPs

Well, it seems that the government has decided to change its mind about the Home Information Packs (HIPs) that are to be brought in next year, and only some parts will now be compulsory.

One of the most controversial aspects of the packs, the “Home Condition Report”, which was designed to let the buyers know about the state of the house before making an offer, has now been made voluntary.

On the face of it, HIPs were a good idea – in theory, they were aimed at speeding up the whole home-buying process. But their cost (estimated at £700 – £1,000) and the fact that mortgage lenders were still going to ask for a valuation (which the buyer has to pay for), means that they were becoming a bit of a joke. And now that the government has back-tracked on the Home Condition Report, it might mean that they’re dead in the water before even coming out.

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