HOME INFORMATION PACKS SUSPENDED WITH IMMEDIATE EFFECT

21st May 2010

Communities Secretary Eric Pickles and Housing Minister Grant Shapps announced today that the requirement for homeowners to provide a Home Information Pack (HIP) when selling a home, has been suspended from Friday 21 May 2010. The permanent abolition of HIPs requires primary legislation, which the Government has confirmed they will be doing as soon as practicable.

After weeks of speculation surrounding the future of HIPs, today’s announcement is seen as a welcome boost for potential sellers entering the property market. Suspending HIPs will reduce the cost of selling a home, remove a layer of regulation from the process and provide help to the housing market during the recovery.

Sellers will still be required to provide an Energy Performance Certificate (EPC), although once commissioned, properties can be marketed before the EPC has been received.

Mr Michael Poole from Michael Poole Property Consultants, the member of Home Sale Network in Teesside said, “We are pleased that the new Coalition Government has ended the uncertainty surrounding HIPs in today’s announcement. With sellers now able to market their properties without the need for a HIP, this should encourage more properties onto the market and assist the housing market during its recovery.

“Michael Poole Property Consultants looks forward to the boost this will bring to the current market and believes that this Summer could be the time to sell your home.”

Indeed, I am looking forward to a healthy market through the rest of 2010. Property will always be a good investment in the medium to long term so if you are a first time buyer don’t delay your purchase. We have access to an array of mortgages.

If you are already in the market and thinking of selling click here to arrange a free market appraisal and receive pro-active advice from one of our valuers (all of whom belong to professional bodies). If you are looking to buy another property you will need a survey to protect your interests, click here for details of our professional services. If you are looking to make your move now or in the not too distance future please contact any of my branches- click here whereby we can advise you on the likely selling price and also the best means of sale whether it be by private treaty of public auction.

We are the local agent with national connections – so if you are considering moving into the Tees Valley or moving out to another part of the UK we can assist you with our associated branches.