Shooting from the HIP

In an article for Professional Housebuilder & Property Developer, partner Jeremy Davy discusses new guidance from National Trading Standards, which requires sellers of property to provide buyers with upfront information. Comparing it to the Home Information Packs (HIPs) proposed previously over 10 years ago, Jeremy highlights the similarities between the two, which both require additional upfront information in order to streamline the time it takes to complete a conveyancing transaction.

Jeremy Davy comments:

‘National Trading Standards then published guidance on the ‘material information’ that should be provided to potential purchasers when properties are listed for sale. While the guidance is primarily aimed at estate agents, any business that lists a property for sale without disclosing the required information will be in breach of the Consumer Protection from Unfair Trading Regulations 2008 (CPRs) which could lead to a significant fine and reputational damage. Trading Standards’ stated aim is that property listings without the required information should not be uploaded to Rightmove or any other website.’

The full article can be accessed on the Professional Housebuilder & Property Developer website.