HIP HIP Hooray! Home Information Packs suspended with immediate effect.
It was today announced by Communities Secretary Eric Pickles and Housing Minister Grant Shapps that the requirement for Home Information Packs has been suspended with immediate effect. The suspension is pending primary legislation for a permanent abolition.
Home Information Packs were introduced in 2007 and were a mandatory purchase for anyone putting their property on the market in a bid to provide prospective buyers with more information on the property and speed up the transaction. However it has been argued that they have prevented prospective sellers from marketing property due to reluctance in paying the up to £350 production fee. In addition there is no evidence that they have enabled property transactions to go through any faster and have actually added red tape and bureaucracy to the process.
It is hoped that the abolition of Home Information Packs will encourage prospective sellers to put their property on the market and therefore encourage the housing market to continue in its recovery. For purchasers of homes this means that the searches that were provided in the Home Information Pack will once again become their responsibility to acquire.
It will now be the choice of the seller as to whether they wish to provide a Home Information Pack or not. The only element of the Home Information Pack to remain will be the Energy Performance Certificate as this is still required under EU law. The Energy Performance Certificate will have to be commissioned within 28 days of marketing the property and the government will consider how the Energy Performance Certificate can play a part in the new drive for a low carbon and eco friendly economy.
The government has also announced an intention to further assist home owners in working to reduce energy bills, tackle climate change by improving the energy efficiency of homes and improve energy security.