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Relaxation Extended
The relaxation of the pack requirements upon first day marketing were extended by five months to 31st May 2008. This was due to expire on 31st December 2007.

Frettens HIP Q&A:

Helen Jones answers some questions that we have been asked recently:

Question: Will this relaxation of pack requirements apply only to properties coming onto the market now, or will it affect the properties already on the market?
Helen: This will only apply to properties coming onto the market.

Question: Will all the required documents have to be in the HIP before marketing?
Helen: All documents need to have been ordered. However, the property cannot be marketed for 14 days, without the EPC unless it has been ordered and not received within that timescale. If searches are delayed, the property can be marketed as long as the documents are included within 28 days.

Question: Do newly-built properties require a HIP?
Helen: There is still confusion over this in the market. A piece of legislation states that if a property complies with Building Regulations 2006 or more recent, a HIP is not required. If the property complies with earlier legislation, it does require a HIP. It is hoped that this anomaly will be resolved by April, although this date is by no means guaranteed. Until then, it is necessary to know under which regulations a property complies.

Frettens Subscribe to the HIP Code
Frettens have registered and been certified by the PCCB as a subscriber to the HIP Code. This means our procedures and Packs have been checked and that we adhere to best practice and codes of conduct as set out by Property Codes Compliance Ltd. Look out for this logo for as a guide to reputable HIP providers.

Problems with low-cost HIPs?
Some cases have been reported of low cost and low quality HIPs discouraging buyers - this is also likely to cost a seller more to compensate for inadequate documentation. Avoid low quality HIPs by checking your HIP provider subscribes to the HIP Code (see above).

Faster, Cheaper Searches?
New measures to help deliver faster and cheaper property searches for homebuyers were published recently by Junior Housing Minister Iain Wright. It means that councils and private search companies will be expected to work together to improve the quality and speed of providing property searches to homebuyers. Local authorities should now aim to provide access to their data within one working day to private search companies. In return, they will be able to recoup their costs by setting a fair charge for improving access.

A Frettens HIP:

costs £299 (inclusive of VAT & disbursements);
adheres to the HIP Code; and
in most cases, are ready with 48 hours to enable you to market the property.

If you haven't tried our HIP service yet CLICK HERE!
Click here to order a Frettens HIP.
Contact Helen Jones for further information about HIPs or any general conveyancing enquiries.

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