- The introduction into the HIP of a Property Information Questionnaire providing basic, useful information about a property including a leasehold summary.
- The removal of temporary first day marketing which means a HIP (minus searches) must be in place before a property is marketed - providing certainty to consumers that a HIP will be available. This will not prevent agents advising clients about properties they expect to be coming onto the market.
- Ending the use of insurance in personal searches, so that consumers receive a better quality product, to address the issue of buyers being advised to undertake a "second search" as a consequence.
Property Information Questionnaire (PIQ)
The Property Information Questionnaire provides buyers with a checklist of useful information about a property.
It includes:
- gas and electricity safety information
- flood risk information
- details of previous structural damage
- information about parking arrangements
- a leasehold summary
