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Beware Rogue Hips

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Beware Rogue HIPs, Consumers Warned

Not so HIP: The public does not want Home Information Packs, says campaign group

The market for offering home information packs (HIPs) should be regulated to prevent rogue companies from entering it, a pack provider says.

Spring Move said consumers needed protecting from companies who may look to cash in on the £1.4 billion market, as well as those who may produce rushed or sub-standard packs.

It said estate agents could be fined £200 for marketing a property without one of the packs, but there was currently no penalty in place for companies that provided inadequate packs.

From June next year homeowners must compile a home information pack containing details of ownership, local authority searches and a home condition report, before they can put their property up for sale.

It is estimated that the packs will cost an average of £635 each, although for some properties and locations the sum could be closer to £1,000.

Meanwhile, campaign group Splinta (Sellers' Pack Law is Not the Answer) said it was receiving increasing numbers of letters and emails from members of the public saying they didn't want the packs.

Spokesman Nick Salmon said: "Ordinary people are starting to look at the pack and the message is clear - the public do not want HIPs.

"The politicians may ignore the constructive criticisms of the property industry but they will find it harder to ignore the voice of the voters.''

Spring Move called for the home information pack industry to develop a charter of best practice outlining minimum standards of service.

This would include a transparent charging structure with costs that were clearly explained to consumers and an agreed format for presentation to help people distinguish between packs which contained the minimum information to satisfy the legislation and those that offered additional details.

It also said firms that signed up to the charter should have adequate professional indemnity insurance and only use people to compile the packs who had adequate training.

Stephen Foden, chairman of Spring Move, said: "We are in favour of Home Information Packs but we are concerned that some companies will enter this market offering poor quality HIPs that in some cases will not be worth the paper they are printed on.

"If the industry wants consumers to rely on HIPs to help make their purchasing decisions, we must introduce safeguards against the production of wrong or misleading information.

"Failure to do this could prove very costly and people could be within their rights to sue estate agents, HIP providers and home condition inspectors for compensation.''

http://channels.aolsvc.co.uk/money/article...509140009990009

Sorry, the link will only work for AOL members.

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It costs £635 for a HIP and the fine is £200 if the EA does not have one. Who the F**k thought that up.

Fines are supposed to discourage people from breaking the law, not encouraging them to do it because the fine is 1/3 the cost of doing it legally.

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It costs £635 for a HIP and the fine is £200 if the EA does not have one. Who the F**k thought that up.

Fines are supposed to discourage people from breaking the law, not encouraging them to do it because the fine is 1/3 the cost of doing it legally.

Could be wrong, but i think it might be £200 per day

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Meanwhile, campaign group Splinta (Sellers' Pack Law is Not the Answer) said it was receiving increasing numbers of letters and emails from members of the public saying they didn't want the packs.

For members of the public please read ESTATE AGENTS

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  • 302 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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