The research, published by Ipsos Mori found that while over 90 per cent of people buying a house want information about its condition, fewer than one in six trust this information when it is provided by the seller.
Home buyers were ‘very concerned’ about the reliability of information they received from sellers, and over 75 per cent claimed they would only trust information from an independent surveyor that they had appointed. More experienced buyers preferred to use an informal inspection by a builder, plumber or electrician who they already knew rather than use a condition survey.
All Code subscribers are subject to robust compliance checks and the searches they produce are backed by comprehensive insurance – protecting not only the consumer but 3rd parties to the transaction – with independent redress to the Property Ombudsman should problems arise.
Spokesperson Kate Nicholls, said:
“The continued existence of the CoPSO Search Code will ensure that consumers do not suffer any deterioration in the quality or reliability of the product as a result of the Government’s decision to remove the legal framework. It is business as usual as far as we are concerned. The Search Code has always been the ‘Gold Standard’ Continue reading →
The Liberal Democrat members of the new coalition Government in particular should remember what happened in Redcar as a direct result of Corus job losses. The impact of scrapping the HIP industry means far more job losses throughout England and Wales as a whole.
What really angers everyone affected by this announcement is that they all trained in the first place as a direct result of a prolonged recruitment campaign by the previous Government. Allegedly over 20,000 British taxpayers trained at their own expense, as home inspectors, Energy assessors or HIP providers. With all of them now facing bleak and uncertain futures Continue reading →
“New communities secretary Eric Pickles and housing minister Grant Shapps have take decisive action by scrapping HIPs that will be a boost to the housing market and help show that we’re back in business. It’s evidence of them keeping their pre-election promise and now we need to see other promises kept. We need other barmy legislation brought in by Labour – like the crackdown on shared housing – to be undone.”
Shapps, along with Prime Minister David Cameron and environment secretary Caroline Spelman all signed a motion calling for the shared housing crackdown to be scrapped earlier this year.
The NAEA has long campaigned for HIPs to be scrapped, arguing that they have failed to benefit home buyers and actively discouraged sellers. The initial agreement between the Conservative and Liberal Democrat parties committed the coalition government to the “retention of energy performance certificates while scrapping HIPs”.
Mr Bolton King said: “This is great news for the housing market and for house buyers, few of whom have paid much attention to these pointless packs.
“It is also good news for sellers, who will no longer need to shell out hundreds of pounds for a piece of pointless regulation that benefits no one.
The Compliance Committee therefore imposed a registration cancellation sanction as provided for under PCCB Rules. The firm did not appeal against the Committee’s decision.
Richard Footitt, Chairman of the PCCB said:
“The PCCB’s decision to cancel this firm’s registration again demonstrates that we are committed to upholding the high product and service standards that consumers deserve and also to protecting the integrity of the Codes. As the recent mystery shopping exercise by Birmingham Trading Standards showed, compliance levels were significantly higher for products produced by Code subscribers and the Code logos are therefore the best guarantee for consumers of quality and service.”
David Newnes, managing director of leading estate agency chain, Your Move, said HIPs had helped stem transaction fall-throughs this year and last, with the rate of exchanges significantly improving from around 33% each month to around 42%.
Mike Ockenden, Director General of AHIPP, called for the forthcoming government to be constructive in improving the present HIP and welcomed the Conservatives pledge to have a 100-day consultation on the subject.
In the subsequent vote at The Land Data Great Housing Debate held in Westminster, only four members of the audience voted to scrap HIPs while the majority supported the motion to adapt but not Continue reading →
The ERP will also comply with the standards and be covered by insurance as prescribed by the Property Codes Compliance Board.
Mike Ockenden, Director General of AHIPP, which maintains the Code, comments: “With the uptake of the Exchange Ready Pack increasing steadily, bringing this enhanced HIP under the HIP Code is a vital step in the quest to improve the home buying and selling process. The move ensures that the ERP complies with minimum standards while protecting the consumers, estate agents, conveyancers and mortgage lenders that rely on the information that the pack includes.
AHIPP believes the greatly improved rate of reliance on HIP searches is one of the main reasons for the reduction in sale fall-throughs, which are down from 28% in 2006 to only 9% today according to research conducted by myhomemove in February 2010.
Consumers also continue to benefit from a 31% drop in the cost of local searches since the introduction of HIPs. OneSearch Direct found that the cost has reduced from an average of over £134 before HIPs were implemented to less than £92 today.
Michael Tolland, Commercial Director of OneSearch Direct, said: “The figures don’t lie. While some would suggest otherwise, Continue reading →