HIP - Home Information Pack

Home Information Packs become a legal requirement for home-sellers next summer, but very few people know what they are. Home Information Packs (HIPs) will become law next summer, whether the public or industry is in agreement or not. Even though this new legislation will affect the whole buying and selling process, a substantial number of people remain unaware of what HIPs actually are. Results of a new survey conducted by The Property Investor and Homebuyer Show North (G-Mex Manchester, 2 to 4 June) have highlighted that over 27% of people are unaware of HIPs and a staggering 61% believe that it is the buyer who has to stump up the cost, as opposed to the seller.

The results also show that more than 22% of the general public wrongly believe HIP stands for Hotspot Information Provider, and 5.6% for Housing Initiative Product. When asked who has to purchase the HIP, a whopping 61% said it was the buyer and 7% bizarrely selected holiday makers. Just 32% knew that it was actually down to the seller to purchase the HIP before they can put their property on the market.