HIPs were suspended from 21st May 2010

June 7, 2010

Home Information Packs (HIPs) will no longer be required for house sellers from 21st May 2010.
The costly packs were introduced in 2007 in England and Wales, despite strong opposition from the Royal Institution of Chartered Surveyors (RICS) and National Association of Estate Agents.
The final good-bye to the HIP involves legislative changes and the immediate reprieve takes the form of a suspension, although the Energy Performance Certificate will remain as it is required under European law.
Meanwhile, HIP providers face a very uncertain future; many have set up their own businesses or paid for their training and will no doubt be seeking compensation.
Finally, the recovering UK housing market may not benefit from a surge in speculative sellers that could follow the suspension of the HIP.
New instructions for sales are already outstripping new buyer enquiries, according to the RICS.

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