Hips 'of little use' to first time buyers

01-Aug-2007

Home information packs (Hips) are launched today (August 1st) following a protracted build-up that saw many industry figures at odds over their value.

First time buyers are unlikely to be affected by the initial roll-out, which will see Hips required for the sale of properties with four or more bedrooms before a more extensive implementation comes into force over the coming months.

The packs will include an Energy Performance Certificate (EPC) so that homes can be graded according to their energy efficiency.

"The Green paper states that 'first time buyers will be amongst the bigger beneficiaries of the home information pack'," noted Helen Adams, managing director of FirstRungNow.com.

"I would have agreed with this when the home condition report was compulsory and the Hip included information on household expenditure such as council tax and utility bills - these would have been genuinely useful elements but they have been all but eliminated now and the Hips are now of far less value than they were once meant to be," Ms Adams added.

Hips were originally scheduled to be introduced on June 1st but a lack of qualified energy assessors pushed the scheme back to August 1st.

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