HIPs need to be changed to be of any value

Home Information Packs, also known simply as HIPs, need to undergo some fundamental changes in order to be of any value according to officials from the consumer campaign group, Which? Officials from the group have stated that these packs are of little value in their current form, and even went as far as to brand the packs as the ‘worst piece of consumer legislation in 50 years’.

The consumers group had actually been in support of these Home Information Packs in the past, but has now stated that changes need to be made. They are also concerned that the packs do not have the backing of consumers or estate agents, and since they were introduced last year have been at the centre of controversy. Estate agents have said that that packs are costly, cause delays, and have even affected the number of people that put their homes up for sale.

One spokesperson from the consumer group stated: ‘In principle HIPs should help home buyers and sellers, but they are of limited value in their current form. Our snapshot survey suggests there’s real confusion and a lack of confidence among home buyers and sellers and, most worryingly, by estate agents about HIPs. We want to see an independent review of the whole home buying process, to make home buying and selling easier, cheaper and quicker for consumers. It’s been ten years since this promised and not enough has changed in England and Wales. Scotland will introduce its own form of HIPs in December this year. These home reports will include a survey and a questionnaire covering useful information about the property.’

Recent additions:

• Sharp increases in buy to let mortgage figures
• Ongoing problems in the mortgage sector
• Many home buyers not even looking at Home Information Packs
• Fast action needed to get a good deal on a mortgage
• Number of mega-mortgages available slashed

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