Law Society announcements from www.lawsociety.org.uk/hips

The government has announced that Home Information Packs (HIPs) and Energy Performance Certificates (EPCs) will be rolled out to the rest of the market from 14 December 2007.

Housing Minister Yvette Cooper said: “HIPs and EPCs are already helping consumers to save hundreds of pounds off their fuel bills and are cutting search costs too. All home buyers will be able to benefit from energy efficiency advice, with those receiving low green ratings of ‘F’ and ‘G’ especially targeted for support and grants to make improvements to cut their costs and carbon emissions.”

The government has published an independent report by Europe Economics on the impact of HIPs on the market. Their report finds no evidence of any impact on transactions or prices, although there is a predicted short-term impact on new listings as sellers change the timings of their listings. The report concludes that the impact on listings is short-lived and the impact on the market is marginal compared to the wider factors.

The government has also stated the following:

• Given the higher number of leasehold properties amongst one and two bedroom homes, it will temporarily amend the HIP regulations so the lease document itself must be included, but other leasehold information will be introduced as a requirement in six months’ time.
• It will publish guidance in December on access and charging for local authorities and personal searchers.
• It will extend the temporary first day marketing provisions for an additional six months to allow for full flexibility (from 1 January to 1 June)

Further information from the Law Society

• The Law Society's HIP product range
• Events
• Regulations
• Downloads and links (from the Law Society and government)
• Receive regular email updates

Want to know more about HIPs?

Property Section members should enter their username and password and visit the Resources area for more HIP-related information. Non-members should join the Law Society's Property Section and receive:

1. Handling HIPs booklet
2. Property in Practice quarterly magazine with regular HIP features.
3. Ten e-newsletters per year with the latest news on HIPs from the Law Society, government and other third parties.
4. Detailed commentaries on HIP developments by practitioners and those involved.
5. Early email notification of all major announcements.
6. Member only discussion forum and networking opportunities to talk about issues and concerns.
7. Online access to related Law Society, government and third party statements and publications.
8. Discounted delegate rate at HIP events.
9. Discounted rate on Home Information Packs: a guide to the new law (Law Society Publishing, 2006).
10. Chance to get involved with elections to the Executive Committee.