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Summary:

"First Day Marketing" extended to 31 December 2008
Provision to include only a copy of the lease in a HIP extended to 31 December 2008.

The Government has announced that it is extending the transitional arrangements introduced last year, enabling properties to be marketed once the Home Information Pack (HIP) has been commissioned. The Government had intended to introduce "First Day Marketing" on 1 June 2008, meaning that sellers would have to have a HIP ready with certain documents, before they could begin marketing the property. This has now been extended until 31st December 2008.

A temporary provision requiring HIPs to include the “Lease” only, and to “authorise” other leasehold documents was also due to expire on 31 May 2008. There are a number of longstanding issues in the provision and cost of leasehold information, which HIPs have highlighted and the inclusion of all leasehold information prior to marketing would cause serious difficulties. The Government has confirmed further work is needed to resolve these issues and have extended the temporary provision for leasehold requirements until 31 December 2008.

Conveyancing Executive at Frettens, Ian Lorrimer, says "Basically, this means that properties can still be marketed PROVIDED a HIP has been commissioned and is expected to be ready within 28 days. Also, the only leasehold document currently required in a HIP is a copy of the lease. Both provisions will be reviewed again prior to 31 December."

Read the story in more detail

Read the Government announcement in full

Contact Iain Lorrimer

Order HIPs from Frettens

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