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HIPS SCRAPPED

Posted 20/05/2010

As from the 21st May 2010 HIPS are suspended for anyone selling their home in England and Wales.

The burden of paying for local searches and water and drainage searches will now fall on the buyers again as pre the HIP legislation.

The energy performance element of the HIP will remain and sellers will have to pay around £60.00 for the certificate which ranks the energy efficiency of their home.  This must be produced by the seller within 28 days of putting their home on the market.

The government are expected to outlaw HIPS completely with new legislation shortly and increase the stamp duty limit to £250,000.00.

 

 

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