16 Jun

Estate agents risk breaking the law with inadequate HIPs

Estate agents risk breaking the law with inadequate HIPs

Obtaining Home Information Packs (HIPs) from disreputable providers could see estate agents risking serious legal repercussions, an expert has warned.

Under new rules brought in last year, every home put on the market must have a HIP detailing a sale statement, evidence of title and energy performance information, among other things.

Providers are required to meet high standards and carry professional indemnity insurance of a minimum of £2 million per HIP.

However, Mike Ockenden, director general of the Association of Home Information Pack Providers, says estate agents are often more concerned with getting the cheapest option rather than finding the best choice for their customers.

He warns: "While I understand that many estate agents do not like HIPs, they are here to stay and it is important that agents understand their legal responsibilities in respect of packs."

According to recent HIP trial figures published by the government, 72 per cent of consumers are fairly or very satisfied with the new legislation.
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