Further delays with HIPs

Home Information Packs have experienced a number of problems and delays since they were brought in last year, and have come under intense fire by some officials that claim the packs are costly and cause delays. According to a recent report there has now been another delay involving these packs. However, it could be good news for homeowners in England and Wales, as the delay means that they have additional time to comply with new rules relating to these packs.

The government had stated that Home Information Packs needed to be ready and available before any residential property in England or Wales could be marketed for sale. However, it has now been decided that this regulation will be delayed until the end of the year, which means that homeowners with loans will be able to market their homes of sale as long as they have ordered and paid for the Home Information Pack, even it is not ready.

The government had been planning to enforce the rule in June of this year, so homeowners will now have an additional six months before the regulation comes into play. However, Home Information Packs are still receiving bad press from a range of officials from estate agency professionals to Conservative Party members.

HIPs were rolled out in England and Wales from August of last year, although they did not become compulsory on all properties until December due to delays. Officials involved with their implementation claim that the packs make it safer, faster, and more effective to buy and sell homes, but consumers and estate agency officials state that the packs are putting people off mortgage selling and are proving to be costly and ineffective.