New Statement on HIPs Good News for UK Property Owners
Having started a petition on the 10 Downing Street website as a result of the planned Home Information Packs (HIPs) it now seems that some of the concerns raised by the National Association of Estate Agents (NAEA) have been recognised by the government.
A recent statement on the topic issued by the Department of Communities and Local Government (DCLG) has been welcomed by the professional body as it sets out several proposed changes to the drafted HIPs regulations which are in keeping with campaigning over the past few years - such as including a reduction in the number of documents needed before marketing a property can begin.
There is agreement that properties which are being marketed before the introductory day of 1st June 2007 and remain on the market will not need a HIP before the end of March 2008. Properties will also be able to use the same HIP if they are remarketed by the same person within a year of the date the HIP was issued.
It is not all good news though, as whilst the rules for first day marketing have been relaxed somewhat, the problem remains that you cannot begin immediate marketing of your home under the new system. NAEA will be able to have further consultations due to the release of this new document however, and have pledged to make further representations. Interestingly enough, this new statement on HIPs came only a short time after the hugely popular NAEA-HIPs e-petition was launched and gathered over 2,500 in its first 24 hours (see the Letting News' story).
There is now a call from the Association of Home Information Pack Providers to get everyone to work together to ensure that consumers get the "best possible service" and experience the benefits of such a reform, along with the reassurance that there is no intentional slowing of the marketing of property in the UK.