Here come the HIPs

http://news.bbc.co.uk/2/hi/business/6951171.stm
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I can't wait for id cards. Who wants to bet that wont be the biggest monumental f**kup of all time.
Kevin
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Well I didn't realise they no longer contain a survey. Surely that was the main thing said would help first-time buyers etc, and that has gone. And can you use the searches done pre-HIP when you bought the house you are selling ? I mean, if there used to be a coal mine nearby, that won't have changed. It's unlikely anything near would come up on the searches, but I suppose they would have to be done again anyway. As for the energy certificate, I wonder what it will say for old solid- wall homes ? Probably just to insulate the loft ! Simon.
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sm_jamieson wrote:

It is simply another form of taxation, the HIPs are subject to VAT. The usual government way, knew there would be uproar if they introduced it all at once, by doing it in stages people accept it.
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Yep, frog in a saucepan of water. Simon.
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On Fri, 17 Aug 2007 15:27:15 +0100 Broadback wrote :

True but if it's a sale subject to IHT or CGT HMG gets 17.5% of the pack price but then loses 40% of the with-VAT price, e.g. pack price 500+, they get 87.50 VAT, lose 235 in inheritance tax.
--
Tony Bryer SDA UK 'Software to build on' http://www.sda.co.uk


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Is the 'pack' subject to VAT? Most of the items in it are things that you already have to buy which are either VAT excempt or have VAT included.
I can't see that paying someone 50 quid to put it all together generates another VAT charge (except on that 50 quid).
Personally, I can see this pack as a tax. It doesn't generate a significant amount of VAT that wasn't already being collected and there is no compulsion to pay someone to put it together for you. You can do it yourself - and why would the contributors to this group do otherwise :-)
tim
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On Fri, 17 Aug 2007 19:18:44 +0100, tim..... wrote:

Even if the local authority search and land registry searches are VAT exempt the energy assessors fees are and the overall package assembly charge will be.
--
Ed Sirett - Property maintainer and registered gas fitter.
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I can see that there is a (small) amount of extra tax collected.
But my point is that, I believe that the introduction of these packs has not been done to create revenue.
It's been done because someone genuinely believes that they will be helpful. You will recall (or perhaps not) that (for reasons which I never understood) Estate Agents where in favour of such a the scheme when the Government were initially consulting on "how to avoid gazumping", perhaps because they thought the alternatives were worse. They only became negative to the scheme after the initial trials.
tim
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And that someone is a politician. Someone who genuinely believes, with no evidence whatsoever, that they can can run your life better than you can. And they're wrong. They're always wrong. More often than not, what they do will have thye opposite effect to what they intended, and there will always be unseen side effects. I firmly belive that HIPS will have the opposite effect to that desired; it will make it more difficult and expensive to buy and sell houses. All we needed was to make the offer & acceptance legally binding. Nothing else.
--
"Religion poisons everything."
[email me at huge huge (dot) org <dot> uk]
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wrote:

Before which we will have to have surveys done and mortgage offers guarenteed.
How does this move the goal posts? ISTM that all it does is change their name.
tim
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The HIP concept is fundamentally broken because it is something commissioned by the seller. Any buyer with half a brain would want to be in control of the evaluation and survey. As to the value of a survey about energy profile, is it going to cause either party to take an action or make a purchasing decision based on its contents? In the cloud cuckoo land of Whitehall, possibly. In the real world, certainly not.
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wrote:

Do people believe the efficiency ratings on Fridges, or do they pay someone to conduct their own survey?
tim
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On Sat, 18 Aug 2007 14:09:26 +0100, "tim....."

I ignore such 'efficiency ratings', as there are so many variables such as how often they are opened, ambient temperature, how full they are - indeed the type of contents.
--
Frank Erskine

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There is a difference of several orders of magnitude in the price of the purchase.
Even so, do people base their purchasing decisions about fridges on energy ratings or on other factors such as usability, design and price?
Possibly, there is more of a following for energy ratings on domestic appliances, but I don't believe that there is for houses.
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On Sat, 18 Aug 2007 14:59:11 +0100, Andy Hall wrote:

I tend to agree. Firstly there is the fact that the energy rating applies to a model rather than a specific unit. Whilst there is the possibility of fraud (Which? found that most "A" rated boilers weren't quite "A") nevertheless an A rated unit is still likely to be better than one with a lower rating.
Secondly when buying a fridge (especially) and to a lesser extent other appliances, the energy rating is one of the major criteria. Such an appliance can easily save or waste many times it purchase cost over its lifetime. The energy costs running a house are currently a magnitude less than financing its capital cost.
--
Ed Sirett - Property maintainer and registered gas fitter.
The FAQ for uk.diy is at http://www.diyfaq.org.uk
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If people based their purchase solely on the energy rating there would be no need for the rating in the first place - all fridges would be in the top class.
A 100 year old Victorian terrace single brick construction house with a poor energy report is still going to sell at its current price (in the south of England) because the modern energy efficient property is 100k more!
--
Alan
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.. and perhaps because some people don't *want* the modern box.
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On 18 Aug 2007 10:22:44 GMT Huge wrote :

But how can you make an binding offer when the seller hasn't got copies of approvals, guarantees, their lease, confirmation of what the service charges are etc.
I've bought a couple of Australian flats off-plan: you get presented with a 'sellers pack' containing plans, title documents, planning consent, lease conditions, search etc etc. Fill in your name and address and the deal is fixed.
--
Tony Bryer SDA UK 'Software to build on' http://www.sda.co.uk


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I thought the energy assessment element was as a result of an EEC Directive, which the gov't is obeying, and they have hidden it (paying for it) by wrapping it inside the HIP.
--
Tony Williams.

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