Q. What is all the fuss surrounding Home information Packs, are they really going ahead and if so how will this impact the property market?

A. Home Information Packs or HIPS as they are more commonly referred to look set to become law from the 1st of June 2007. Despite opposition from the majority including a call for postponement last week from both the RICS and the CML it appears the government are now moving full steam ahead with scheme. The packs will comprise of various documents the main ones being, sale statement, official copies of the registers, official copy of the title plan, energy performance certificate, a copy of the lease, any deeds of variation and other leases or licenses that are relevant to or effect the title. The pack will also contain local authority searches and a home condition report, and the list goes on! In effect anyone who wishes to sell their property will now be required by law to have a valid HIP, which complies with the regulations and is in place before a qualifying property is marketed. Naturally this will slow the housing market down particularly as we have seen in this area where often within hours of valuing a property we have it under offer. Situations like that we not occur again as clearly without the pack a property cannot be marketed. Estate Agents looks set to work hand in hand in hand with a HIPS provider to assist our vendors in organising the pack. Certainly the English property system needs addressing in many respects, but are HIPS the answer, only time will tell!