Part of the debate – in the House of Lords at 2:56 pm on 23 March 2009.
As I indicated, my Lords, we have seen some definite benefits from HIPs in terms of speed. The regulations we introduced in December will require sellers to provide a property information questionnaire that will include simple, basic information on matters such as electrical safety which one often does not remember to ask about when looking at a house. On the specific problems, I am happy to act as an estate agent for my noble friend. I can tell him that HIPs are valid for as long as the house stays on the market but that if it is removed, a new HIP will have to be done after 12 months. Even if the sale falls through after a year the seller can go back on the market with the original HIP as long as the marketing starts again within 28 days. So it effectively has a shelf life of a year.