As of today, Home Information Packs (HIP) will be scrapped and will therefore no longer be a legal requirement when it comes to buying a home. However, Energy Performance Certificates (EPC) that were a major part of HIPs will still be legally required by EU law. A full HIP cost in the region of £350 but an EPC on its own only costs around £100, cutting £250 off the cost of buying a home. HIPs were generally seen as an unnecessary barrier to home market entry and the move has been widely welcomed by both mortgage brokers and estate agents.

Grant Shapps, the new Housing Minister for the coalition Government stated yesterday: 

"Today the new Government is ensuring that home information packs are history. This is a great example of how we are determined to get straight down to work and cut pointless red tape which is strangling the market.

"By suspending home information packs today, it means that home sellers will be able to get on with marketing their home without having to shell out hundreds of pounds upfront.

"We are committed to greener housing so from now on all that will be required will be a simple energy performance certificate."

The removal of HIPs as a legal requirement will be welcomed not just by lenders and agents but by buyers and sellers as well. However; many people trained to supply the packs will see their immediate suspension as a big blow. 

Author:  Thomas Davies

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