June 2006

New legislation that will require people selling a property to have a Home Information Pack, costing over £600, could cause a rush of transactions before its introduction. That’s the warning from Colchester solicitors Thompson, Smith & Puxon.

The Home Information Pack, compulsory from June 1 2007, will need to include important information on the property such as an Inspector’s Home Condition Report, Land Registry details and answers from both the seller and the local authority to standard questions.

The Government thinks the packs will make house sales go through faster and reduce the number of transactions which fall through. But there are negative elements to the new legislation, the contents of which are still unclear in many areas.

Graham Wilson, a Partner at Thompson Smith & Puxon and the head of their conveyancing team, said: “While there are advantages for some, including first time buyers, there are certainly some negative elements in these new proposals. Where for example does the responsibility lie if the Inspector’s Report is wrong?”.

Thompson Smith & Puxon is keeping clients informed about the new legislation and will continue to provide full conveyancing services, including the HIP pack, when it is introduced. A handy section on HIPs that will be updated regularly is available on our website (Here) in the individuals conveyancing section.