Housing Minister Grant Shapps announced today (20th May) that Home Information Packs (HIPs) are to be suspended with immediate effect. A clause in the Housing Act 2004 allows the Government to suspend HIPs immediately, although primary legislation is pending.
A HIP is now no longer required before a house can be marketed. However, EU law dictates that an Energy Performance Certificate (EPC) is still a necessity.
Kevin Dobson, Partner in charge of the Conveyancing department at Goughs stated that “This move is likely to be welcomed by the housing market as a whole. It’s good news for sellers, conveyancers and estate agents and should see an increase in properties coming onto the market”.
"However we would urge sellers to contact their solicitor as soon as they consider putting their house on the market, as the one advantage of the HIP was that the paperwork was available as soon as a buyer was found. By getting at least some of the paperwork ready up front transaction times can still be reduced”.
For more information please contact Kevin Dobson on 01225 703036.
This article does not constitute legal advice and no action can be taken as a result of reading it. A qualified lawyer should always be consulted before taking any legal action
