There is just 100 days to go before home information packs (Hips) are made mandatory for all sellers across the UK as the organisation responsible for their introduction is stepping up efforts to publicise the changes to the property buying process.
Anyone marketing their home after June 1st will have to assemble a pack, which is comprised of standardised documents containing all the information a buyer needs, before they put their property up for sale.
However, the scheme has drawn widespread criticism from members of the housing industry for being too costly to the consumer, too time consuming to assemble and ambiguous as to what documents need to be included.
But Mike Ockenden, director general of the Association of Home Information Pack Providers, insisted that the scheme was vital to helping through sales.
He said: "Hips are being introduced to help improve the house buying and selling process for all involved – bringing more information about a property to the front of the process, allowing buyers to make more informed decisions and reducing the number of sales that fall through."
It is estimated that around £1 million each day is lost through collapsed sales.
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