Private property speculators, estate agents and developers need to understand the rules that now require all new-build properties to be covered by a Home Information Pack (HIP) or face a substantial fine.
Until early April, HIPs weren’t needed for new properties. That has changed, now a HIP is needed before any form of marketing can take place on an existing or planned development. Otherwise, the parties involved may face a fine of £200 per plot.
It is most important to understand the scope of the word “marketing” under the new legislation. We all understand that it will cover elements such as press or radio advertising, PR and pictures in an estate agent’s window.
However more surprising is that it also includes just talking about the properties to potential investors, including previous customers, as well as electronic and written communication or announcing a planned development on the Internet.
Property developers or professionals seeking legal advice on any aspect of property and HIPs are welcome to contact their local Gamlins Office.
Gamlins are also pleased to offer a HIP service to any developers as well as residential buyers and sellers via Yourhip Limited – www.yourhipltd.co.uk