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HIPs’ removal will free up market activity

In an overdue flash of common sense the new government has announced the abolition of Home Information Packs with immediate effect, pending formal legislation to abolish the packs permanently.

The government’s fear is that the requirement for sellers to have a HIP is stifling growth in a fragile housing market and adds nothing to the process – something that many of us have been saying for some time.

There will still be a requirement for an Energy Performance Certificate which I don’t think anyone would object to as this can be useful in assessing the energy efficiency of a property.

Originally designed to help speed up the house-buying process, HIPs quickly became an albatross around the neck of the previous government. It stubbornly refused to get rid of the packs even though they had become more and more diluted, with the exclusion of the Home Condition Report, in the run-up to their introduction.

With many estate agents citing HIPs as the reason for the overnight collapse of the speculative seller market, their removal should help free up more movement in the property market and remove one of the barriers.

HIPs were never embraced by the public despite the valiant attempts by most estate agents to build this irrelevant requirement into the sales process and give it an element of credibility.

The coalition government has taken the decision that the previous administration should have taken and shot the badly lame horse.


Woolwich cuts offset mortgage rate

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A better deal for MPPI customers

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Graham Beale

Nationwide sees 46% profit plunge due to BMR promise to borrowers

Nationwide Building Society has seen its profits fall 46% partly due to its low base mortgage rate of 2.5%. The UK’s largest building society has reported profits before tax of £212m for the year to April, down on last year’s £393m. The society says its pledge to not increase its BMR to more than 2% […]

Frexit & contagion risk in Europe

Many commentators have suggested the UK’s exit from the European Union will trigger a domino effect, leading to its eventual break-up. Neptune Head of European Equities Rob Burnett discusses the likelihood of this happening. Click here to read more Important informationInvestment risks Neptune funds may have a high historic volatility rating and past performance is […]


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  • Roger Lawrie 2nd June 2010 at 4:21 pm

    With HIPS gone and still a requirement for EPC’s, many landlords will be unaware of regulations for Air conditioning Inspections.
    Midlands company, Envitae, specialists in commercial property energy compliance, is one of many organisations supporting CIBSE in their “Non Compliance Costs Campaign”, as there is compelling case supporting the need for Air conditioning Inspection. Energy Performance Air conditioning Inspections are enabling significant energy savings to be made.

    Envitae’s new website provides lots of useful information and guidance on the requirement for independent energy assessment and points out that inspection is the responsibility of the system operator, who is often the tenant.