20.05.09  Sold Out Online - The survival Site for estate agents

HIPs indecipherable, says Penelope Court, Beauchamp Estates

Could it be its precision or its power of authority, the much debated Home Information Pack’s (HIP) never cease to attract spotlight.

Since its initiation the controversial packs has scored anything but support. Might it be a tug of war amongst property professionals or a simple difference in opinion? What ever the reason might be, HIP’s have become the most heated topic amid every conversation. A number of industry professionals have called for HIP’s to be scrapped, while the rest has accepted their fate by acknowledging the new legislature.

Speaking to a few industry professionals, opinions on HIP's remain to be impenetrable.

Head of Residential Sales at Beauchamp Estates, Penelope Court, speaks to SoldOut about her experience with the new HIP’s:

"Given the crisis in the current housing market, the reluctance of the Government to suspend and abolish HIP’s is frankly incomprehensible. Margaret Beckett must recognize and be called upon to acknowledge that the housing market can not take any additional costs at this time.

Not only is the householder expected to provide for the cost of the HIP’s (several hundred pounds) and the EPC, but is also now required to fill out a PIQ (Property Information Questionnaire). This is an intolerable additional financial burden at this time.

Since the inception of HIP’s I have never been asked by a single purchaser or potential purchaser for a copy of the HIP’s; from my own straw poll I am only too aware that many other agents have also never been asked. When I purchased a flat for myself in December I requested a HIP and despite 30 years in the business it was virtually indecipherable to me and over 100 pages long. How on earth can a lay person begin to unravel this information, make sense of it and base their decision to purchase on that information?

In addition, agents are not allowed legally to market a property before the HIP and EPC are complete which is aggravating a seriously depleted stockpile. Less scrupulous agents will also simply not comply, stealing a march on those that adhere to the legislation.

Luckily the Tories have promised to abolish HIP’s and delay the EPC until the end of the transaction which seems infinitely fairer and more equitable and will no doubt too reactivate the property market far more effectively than the temporary abolition of stamp duty on properties up to £175,000.”