HIP'S overturned as predicted

And so it was. As I predicted in this blog earlier in the week, home improvement packs (HIP's) were postponed in the Lords session yesterday.
The packs will however be required for property with 4 or more bedrooms although the legal definition of a 4 bedroom house remains open to interpretation. Agents and sellers will be able to manipulate descriptions to suit if it means an easier of profitable sale. The implementation of HIP's for 4 bedroom propoerties is planned for August 1 2007.
It was suggested that HIP's for smaller properties could still be introduced in phases as more energy assessors qualify.
So there will not be the rush to sell by June 1 as was predicted if the packs had been introduced. At Kinetic Financial Solutions we had begun to get more enquiries from people anxious to sell before the packs became law. It was a concern of many even though the current cost of stamp duty is a far higher than the £300 - £1000 predicted price tag of an information pack.