In a recent announcement the government has set out proposals for improvements to the Home Information Pack (HIP).
Over the coming months the Department for Communities and Local Government is to consult on two proposed changes to the information that should be supplied in all Home Information Packs (HIPs). It is hoped that these proposed changes will improve the process of buying property in the UK.
The first alteration to be discussed is the inclusion of a Property Information Questionnaire (PIQ) to all Home Information Packs. The PIQ will include important information on a number of areas likely to be of interest to a prospective buyer of the property. Examples of the type of information to be included are details of any building work that has been carried out on the property, information about energy and other utilities, and other items of relevance such as parking arrangements and council tax banding.
The consultation will also set out to simplify the leasehold requirements within the Home Information Pack. In this area the proposed changes are to remove the need for leaseholders to provide large volumes of information before they market their property.
This consultation was introduced by Minister for Housing and Planning, Caroline Flint. In a statement she said "A better informed consumer is a vital element of an effective home buying and selling process. However, all those involved in the process, especially property professionals, have a vital role to play in ensuring that transactions are more efficient and deliver better value for money".
"The proposals set out in this consultation are intended to provide consumers with information they need, in a form that they can readily relate to and use".
"The aim of the Property Information Questionnaire is to enable buyers to make informed decisions by giving them the information they need, when they need it. It is hoped that this will help to reduce the potential for delays and wasted costs and ensure a more efficient home buying and selling process".
If you require a Home Information Pack please contact JMS Solicitors. Simply call us on 0800 781 7057 or alternatively complete our enquiry form.