NAEA questions ODPM HIPs report

According to the survey more than 80 per cent of those questioned thought the introduction of HIPs was a good idea.

The ODPM cites that one in six people who had had problems with buying or selling a home thought that the provision of information up front would most improve the process but this leaves five out of six for whom other solutions would have been more effective to help prevent the problems they experienced.

Peter Bolton-King, chief executive of the NAEA, commented: “This survey tells us nothing new. Obviously the principle of the packs is a good idea and we have never denied that making information available would benefit the buying and selling process.

“However, we maintain our concerns that the restrictions of not being able to market your home until a HIP has been completed will damage the market and restrict both buyers and sellers.”

In addition, the ODPM’s survey shows that members of the public are worried about costs, who would prepare the pack and how they would gather the information.

In addition there were concerns about home condition reports, their acceptance by mortgage lenders and the accreditation of home inspectors.

Richard Sexton, national business development manager for chartered surveyors e.surv, commented: “The introduction of HIPs could be a real opportunity for commercially-minded brokers, though as yet we have not seen that much interest from brokers on the issue.”