New rules which mean homeowners must have a Home Information Pack (HIP) in place before putting their property on the market will lead to better informed buyers, it has been suggested. The Association of Home Information Pack Providers (AHIPP) has welcomed the new legislation, which also requires the inclusion of a new Property Information Questionnaire (PIQ). The PIQ, which must be completed by the vendor, is designed to help potential buyers make a more informed decision on whether to make an offer for a property by highlighting important information such as a home's council tax band, access to the property and any structural changes which may have been carried out at the start of the house buying process. "The information required in the PIQ is already obtained from the seller in the present system, but much later in the sale process. There is nothing new, just different timing that makes total sense," said Mike Ockenden, AHIPP director general.
Disclaimer: Information is correct as of the date of publication (shown at the top of this article). Any products featured may be withdrawn by their provider or changed at any time.
Moneyfacts.co.uk will, like most other websites, place cookies onto your computer’s
hard drive. This includes tracking cookies.