New rules inplace for HIPS

The National Association of Estate Agents (NAEA) have spoken out against the new rules governing Home Information Packs, which come into force today. They claim the new regulations, which stop people from marketing their homes before they have a pack, would stop people from putting up their homes for sale.

Previously, sellers could simply order a Hip before erecting a for-sale sign, now vendors must also set out extra details such as the home's council tax band in a new questionnaire. If a property is put up for sale without the mandatory Hip and PIQ, estate agents or private sellers can face fines of at least £200.

Peter Bolton King, chief executive of the NAEA, said: "It is extremely worrying that the government is pushing ahead with an ill-judged and unpopular scheme that, in the opinion of UK property professionals, will actually slow the market down...It reflects a stubbornness on the part of the government and a reluctance to admit that Hips in the main are pointless and expensive, and according to their own figures, ignored by the very people they claim benefit from them."