September 11, 2007
Home information packs (HIP) extended
The idea has been very controversial yet the government has gone ahead with the Home Information Packs, which are supposed to speed up the house buying process. Last month all houses with four or more bedrooms had to provide a pack for buyers and now the scheme has been extended to cover all three bedroom properties.
This means that around 60% of all residential property are now covered by the scheme, it will be interesting to see how any three bedroom properties all of a sudden develop a play room or study in order to sink below the threshold.
A completed HIP will cost the homeowner around £300, but it has been suggested that the chances of someone buying a house on strength of one of these pack is around 0.1%. But is that the point? Surely it will give the buyer peace of mind about the condition of the house etc.
Source [Guardian]
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