The Office of the Deputy Prime Minister has confirmed 1 June 2007 as the implementation date for Home Information Packs, and a series of target dates leading up to it.
In April, the government will launch a publicity campaign to the industry and release details of a three-phased product launch and dry run. Then in June, draft regulations will be set out detailing content, rules, and arrangements for enforcement. Over the summer, the first phase of geographical trials will take place, followed by further more advanced testing in the autumn.
In March 2007, a review of the outcomes of the final phase of the product launch will be made. The minister for housing believes that by providing all of the main information at the beginning of the process, home information packs will prevent waste, and cut the number of sales that fall through.
Our view
Home information packs should make the system of home purchase more transparent although it will be hard for any solicitor to accept liability for his client buying a property based upon searches that were done a few months ago by the sellers solicitors.
Let us see how this develops.