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Home Information Packs

Expensive surveys abandoned

The government has abandoned controversial plans to force people selling their home to include expensive surveys in its new Home Information Packs (HIP) when they are launched next year.

Under the original proposal, house sellers would have been required to provide a condition report, similar to a survey, in their HIP, along with land searches, title deeds and an energy rating.

But from June 2007 home owners will only have to provide an energy efficiency rating, title deeds and searches, which will cost much less than the £1,000 bill for the full HIP.

HIPs have come in for fierce criticism from the property industry, with some warning that they may even risk destabilising the housing market.

Concerns have also been raised that people who wanted a quick sale would have to wait 14 days while one of the packs was put together before they could market their home.

The government is introducing the packs in a bid to reduce the £1 million that is wasted each day as a result of property sales falling through at a late stage.
It also hopes the inclusion of energy performance certificates in the packs will encourage people to make their homes more energy efficient, reducing both fuel bills and carbon emissions.

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Article date: July 2006
Quote source: Times Media