HIP Suspended reports London Mortgage Advice, North London Mortgage BrokerOgOr Thursday, 20th May 2010

Hips are being suspended and they are suspending the requirement for homeowners to provide a Home Information Pack when selling their homes, Eric Pickles Communities Secretary and Housing Minister Grant Shapps today announced that with immediate effect.

Pending primary legislation for a permanent abolition.Pickles today laid an Order suspending HIPs in England and Wales with immediate effect.

This action has been taken in order to avoid uncertainty and prevent a slump in an already fragile housing market.


HIPs are currently holding back the housing market because sellers are having to fork-out extra cash, sometimes hundreds of pounds, just to be able to put their home up for sale.

It is believed by the government that suspending HIPs will reduce the cost of selling a home, remove a layer of regulation from the process and provide a welcome help to the housing market during the recovery.

It will still be such that sellers will still be required to commission, but won’t need to have received, an EPC before marketing their property, and the government will consider how the EPC can play its part in the new drive for a low carbon and eco-friendly economy.


“The expensive and unnecessary Home Information Pack has increased the cost and hassle of selling homes and is stifling a fragile housing market.Pickles says

He goes on tho say “That’s why I am taking emergency action to suspend the HIP, bringing down the cost of selling a home and removing unnecessary regulation from the home buying process.

He ontinues “This swift and decisive action will send a strong message to the fragile housing market and prevent uncertainty for both home sellers and buyers.

He carries on saying “HIPs are history. This action will encourage sellers back into the market, and help the market as a whole and the economy recover.”

In addition Housing minister, Shapps, says: “This is a great example of how this new government is getting straight down to work by cutting away pointless red-tape that is strangling the market. Rather than shelling out hundreds of pounds for nothing in return we’re stripping away bureaucracy and letting home owners sell their properties.

Futhermore he points out “But we’re also showing our commitment to a greener housing market by keeping Energy Performance Certificates and making them more relevant in helping buyers make informed decisions on the energy costs of their new home.”