Hips need more information

Posted: 15 Jan 2008 10:43:09 GMT

            Property News - Hips need more information

There are calls for Home information packs (Hips) to contain more information.

There are calls for Home information packs (Hips) to contain more information.

FirstRungNow said that the packs currently benefit first-time buyers (FTBs) but need to contain more if they are to be used to their full potential.

Helen Adams, managing director of the firm, pointed out that the data included in Hips can really help homebuyers and particularly FTBs when it comes to budgeting.

"They (FTBs) really need to know what they are getting in to and they won't have to have the cost associated with buying them because they are not selling," she commented.

"I would like to see more people put more information in and not just the bare minimum. In particular, the home condition report, which isn't compulsory, is a very useful addition to the Home information pack for first-time buyers.

"Also, any information related to bills and council tax; the outlays and costs, that can also help the first-time buyer budget," she continued.

Hips were initially introduced to the property market for homes with four or more bedrooms in August but have since been expanded to include all properties in England and Wales.

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