Yesterday Communities and Local Government consultation document announced that Property Information Questionnaires (PIQ) could become the new mandatory element of HIPs.
In reaction to this Peter Bolton King, Chief Executive of the National Association of Estate Agents (NAEA), the residential sales arm of the National Federation of Property Professionals (NFOPP), commented that:
"As we near the anniversary of the launch of HIPs, it is clear that the original objective of supplying relevant information to the consumer, at the right time and the right cost has been a failure. One of the biggest issues faced by our members with regards to HIPs is the problems of supplying information on local searches and leasehold, therefore the CLG's consultation on whether a ‘questionnaire' should be included is interesting and perhaps will go some way to addressing the information a prospective purchaser might require.
However, it will only be of value if it is considered as part of a full review of the current HIPs legislation which is not working. The NAEA has consistently stated that they do not help the buying and selling process, do not stop sales falling through and do very little, if anything, to speed up the transaction. It is this lack of certainty that needs addressing and HIPs will never help this."
If you wish to contribute to the consultation process then you should contact:
Tracey Heyworth, Communities and Local Government, Home Buying and Selling Unit, Floor 4 Zone B6, Eland House, Bressenden Place, London SW1E 5DU.
Email: [email protected]
