Insurance News Archive

Hips roll out 'imminent'

The countdown for Home Information Packs (Hips) has begun in earnest – with only 100 days until the packs are rolled out across England and Wales.

The Association of Home Information Pack Providers (Ahipp) is reminding consumers that after June 1st those people wanting to sell their property will have to acquire a pack before putting it on the market.

Mike Ockenden, director general of Ahipp, said that Hips would help to bring "more information about a property to the front of the process, allowing buyers to make more informed decisions and reducing the number of sales falling through".

He added: "In the locations where packs are being rolled out already we have received a positive response from industry, with many agents taking the opportunity to ensure they are prepared for when packs become mandatory."

Ahipp believes that the implementation of the packs on the market will help to stop the number of transactions falling through each year, a process which currently costs up to £1 million a day.

21 Feb 2007