HIPs not useful unless changes are made

The consumer group Which? was apparently once an advocate of the controversial Home Information Packs that were introduced by the government last year. However, according to a recent report the consumers group has now stated that HIPs are of little value to consumers unless some vital changes are made, and officials from Which? went as far as to say that HIPs were the ‘worst piece of consumer legislation in 50 years.’

HIPs were introduced by the government last summer, and had to be rolled out gradually, so they did not become a compulsory requirement on all residential properties being marketed for sale in England and Wales until December of last year. Officials from the government and those involved in the implementation of HIPs have stated that these packs make home selling and buying easier, smoother, and safer. However, estate agency officials and even consumers have branded them time wasting and expensive.

An official from Which? recently 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:

• HIPs need to be changed to be of any value
• 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

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