News

The Government has just announced that Home Information Packs will be abolished. An Order has already been laid before Parliament suspending them with immediate effect. Sellers will still need to have ordered, but not received,  an Energy Performance Certificate before the property can be marketed, and current indications are that new requirements will be introduced concerning the Certificate.

 

Community Secretary Eric Pickles has said: "HIPs are history. This action will encourage sellers back into the market, and help the market as a whole and the economy recover".There are already reports that proposed increases to Capital Gains Tax are leading to a rush to sell second homes prior to the Budget.  The combined effect of the Government's announcements could be to bring a lot of property suddenly on to the market, possibly leading to over-supply.

 

With a number of further changes in the pipeline, particularly in connection with tax matters generally,  it is even more important to take expert advice and ensure that your affairs are in order. We shall be happy to help.

 

                                                                                                            21st  May 2010