Challenge To Home Information Packs Fails
As we approach the 1st June, the day when Home Information Packs (HIPs) will be introduced, the Conservative Party have failed in a bid to have the project cancelled. They lost a recent Commons vote, where they argued that the packs we too expensive (costing upwards of £300), would delay movement in the housing market and were badly thought out with some areas of information for the HIPs not available as at 1 June.
The Conservatives were supported by a vast array of housing market professionals, who have long declared there opposition to the packs, which they believe offer little value at all. While the subject will be reviewed in the house of Lords in a few weeks time, where it may yet be blocked, the housing market will be disrupted whatever the out come.
There are specific areas of concern which include :-
· The limited use to the legal profession, which may require information to be reviewed again - at extra cost
· The lack of energy inspectors to fulfil the energy review required for each home.
· Basic surveys, which will not fulfil all of the requirements to complete transactions.
In a move which has not been seen in recent times, the Royal Institution of Chartered Surveyors are pushing ahead with a legal challenge calling for a judicial review of the introduction of HIPs. They argue that they were never consulted about the makeup and information required in the HIPs, and as such the packs are out of touch with what is required by market participants.
Even though there are major challenges ahead for the government, the idea behind HIPs seems very sensible although there is much work to do to satisfy all parties - further hindered by the fact that the Treasury will take a large slice of money raised by HIPs.
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