As at 10 September every home put on the market with three or more bedrooms needs a Home Information Pack (HIP). The provision of these packs hasn’t had too great an effect on Fisher German as yet, but the market is slower at present due to further interest rate rises, stock market volatility and last year’s city bonuses. Despite market volatility, Fisher German has still experienced a busy summer with a number of properties achieving over their guide price. This demand reflects our ever increasing list of purchasers looking for properties with further potential or land. We have also noticed a dramatic increase in purchasers registering for properties just before the stamp duty bands £250,000 – £500,000 (3% stamp duty payable) and up to £800,000 (4% stamp duty payable).
Fisher German has been following the formation of HIPs closely, as can be seen by the number of articles on our website. Ian Jepson one of our sales negotiators outlines the need (or not) for HIPs;
If a HIP pack is required, the following compulsory documents need to be produced;
A HIP pack is not required if;
For further advice, please contact Ian Jepson at our Banbury office 01295 226293 or any of our other offices listed on the website.