Third Of HIPs Classed As Unsatisfactory

Research by the Trading Standards at Birmingham City Council has discovered that at least 33% of estate agents are providing property owners with unsatisfactory Home Information Packs.

Comparing them to property regulations laid out in the Property Codes Compliance Board, many failed to the meet these standards, supplying property investors instead with insufficient property information about their potential property investment.

And this is being viewed by many as a complete outrage considering the fact that many property owners are paying out as much as £200-£400 to receive quality HIPs for their properties…

Originally designed to help speed up the property investing process; most property advisors now feel that until stricter regulations are put in place against estate agents who fail to supply quality HIPs, they are an absolute waste of time.

The main problems brought to the attention of Birmingham Trading Standards were:

• The absence of information on complaint/redress procedures
• No consumer information or company contact details
• Technical issues with the property search

Original Article

More About the Author

Fraser Stirling, Property Mentor Delegate

No matter what the media wants you to believe, property is still the only investment route where you can benefit from an asset that will NEVER go into zero value. Even when I was university I admired properties ability to withstand the economic elements and stay strong, even when other investment forms faltered or failed. X years on, I am now the proud owner of multiple property investments - one of which earns a passive income of £4,680 and my property portfolio is still expanding. Read more