Housing Minister Margaret Beckett announced on 8 December a new package of measures to improve and simplify the content of HIPs. The aim is to ensure that consumers can see and use the information at the start of the home buying and selling process.
Measures include:
- The introduction of a Property Information Questionnaire (PIQ) providing basic, useful information about a property including a leasehold summary, within a HIP. This will apply for all properties marketed for sale from 6 April 2009.
- From 1 January 2009, the current arrangement whereby a copy of the Lease is the only additional requirement in the HIP for leasehold property sales will be made permanent.
- The removal of temporary first day marketing from 6 April 2009. This means a basic HIP must be in place before a property is marketed. This will not prevent agents advising clients about properties they expect to be coming onto the market.
- The use of insurance in personal searches will end from 6 April 2009. The aim is to address the issue of buyers being advised to undertake a 'second search' as a consequence.
- Ted Beardsall, former Deputy Chief Executive of the Land Registry, will convene a working group to consider how property searches might be made simpler and more easy to use for consumers and establishing a working group to explore options for making sure that consumers have appropriate information on property condition. This builds on work by the Stakeholder Panel to develop market-led models that can be delivered by existing practitioners, including Home Inspectors.
Housing Minister's Comments
Margaret Beckett said: "Home Information Packs are potentially a vital aid to consumers who are seeking to purchase a home, and I am firmly committed to ensuring they work as well as possible. That is why the changes made today will make sure consumers are better protected, better informed and better assisted when buying a home. It is essential that all buyers are able to see the HIP as early as possible to ensure they are benefiting and sellers are getting the pack they are paying for".
Read the full text of the Minister's statement.