According to a recent report the Home Information Packs that were introduced by the government last year are not proving nearly as successful as was hoped. These packs are now compulsory for any residential property that is being marketed for sale in England or Wales, with government officials stating that they will make things easier and smoother for purchasers and sellers.

However, these HIPs have been at the centre of controversy since their introduction, and it now seems that the packs are not proving as effective as had been hoped. In fact, recent figures show that only one in every six buyers actually sees the Home Information Pack before making an offer on the property. The survey shows that the majority of buyers do not get to see the HIP for the property in which they are interested.

With regards to the survey results the shadow housing minister stated: ‘These results reveal what we and the industry have known all along, Hips are a complete waste of time. It is proving to be a very costly and bureaucratic joke. The Hip hasn’t made the process quicker or more certain, it has simply made it more expensive and choked in paperwork. It is the time this Government scrapped Hips once and for all.’

The housing minister, Caroline Flint, said: ‘What is clear from the trials is more buyers wanted to see the Hip but it was not always made available to them. We have taken action to increase awareness of the right to see a Hip and to remind agents of their responsibility to provide one. Consumers are benefiting. Search costs are falling, first time buyers are receiving important information.’

Recent additions:

• Advice given to potential home purchasers
• Many first time buyers facing soaring mortgage rates
• Darling addresses long term fixed rate mortgages in budget
• No change in interest rates for March

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