Make Home Information Packs (Hips) Voluntary

Make Home Information Packs (Hips) Voluntary

Home Information Packs should be voluntary as they provide limited benefit to homebuyers, an independent review of the housing market has recommended.  The report made 30 recommendations to provide more protection for consumers, one of which was to amend Hip legislations.  It also called for the regulation of and minimum qualifications for estate agents.  

Sir Bryan Carsberg, former director general of the Office of Telecommunications said “I am afraid I see that HIPs regulation imposes a cost that exceeds the benefit.  Much of the information in a HIPs is vulnerable to being out of date so I would make the regulation voluntary”.  He also encouraged HIPs providers to continue to develop a product that could prove to be of benefit to homebuyers.

Our view

We disagree with the suggestion.  In the long run, having all properties searches and land registry works completed will make the house buying process quicker.  The problem is that the housing market ha slowed and Government may u-turn to assist in stimulating the economy.

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