HIPs Update - 22nd November 2007

WHY USE SARGINSONS HUGHES & MASSER TO PROVIDE YOUR HIP?

 

1. We are regulated by the Solicitors Regulation Authority and we are insured if things go wrong. Companies claiming to be HIP providers are not regulated in any way.

 

2. Some Estate Agents will no doubt provide a HIP on the basis that payment can be made when the property is sold. If your property does not sell and you wish to instruct another agent you will then have to pay for the HIP. The new agent may insist on similar conditions requiring another HIP. This means that you will have to pay twice. If SH&M prepare the HIP it will always belong to you and you will not be charged if you change Estate Agents

 

In an uncertain market of expected interest rate rises following the introduction of HIPs you will be in a more favourable position if you own the HIP on your property.

 

For more information visit:

 

Home Information Packs.gov.uk

On 23rd November 2007 the Minister for Housing Yvette Cooper announced that all properties marketed on or after 14th December 2007 will require a Home Information Pack (HIP). The scheme which currently applies to properties with three or more bedrooms will be extended to one and two bedrooms from that date.

At the same time the Minister extended to current temporary arrangements as outlined in our update of 19th June 2007 until 1st June 2008. 

There had been concerns that owners of leasehold property would have genuine difficulties in their ability to produce certain documents required by the HIP regulations. As a result, until 1st June 2008 the only document required to be included in a HIP for a leasehold property, in addition to those referred to in our update of 19th June 2007, is a copy of their lease. 

There is still no requirement for a HIP on relevant properties marketed before the relevant commencement dates.

 

If you are considering selling your house it is important that you contact a solicitor first. If you have any questions or would like to discuss Home Information Packs further please contact us at : hips@sarginsons-solicitors.co.uk or telephone us on 024 76553181.

 

Order a Home Information Pack online

14th October 2008

Sarginsons Hughes & Masser