Monday, June 11, 2007
Category:
Property
The government’s decision to delay the introduction of HIPs or Home Information Packs until August, comes as a disappointment to AA Legal Services.
Commenting, James Molloy, Head of AA Legal Services, said: “I am disappointed and concerned that the government has decided to delay the introduction of HIPs. There will be many losers because of this – both sellers who feel they have been rushed into selling to avoid the cost of HIPs, and those who have trained as inspectors and were expecting to start work on June 1st.
AA Legal Services supports the principle of Home Information Packs fully as a way of giving power back to those becoming homeowners. Is has been said that they will help solve some of the more frustrating aspects of the housing market, such as speculative house marketing for valuation purposes, and environmental reports will become key drivers in making homes greener.
Moving home is the biggest one off investment people make and it is important to take the right steps to ensure that this investment is protected and properly represented.
We would like to urge purchasers in the meantime, to make sure they get full surveys carried out on their prospective property which could highlight potentially crippling risks such as subsidence or dry or wet rot.”
According to AA Legal Services, a structural survey will reveal several things. These include development plans in the area which may affect property value, geology beneath the house that could reveal subsidence risk, ground contamination and previous industrial activity (such as mining), all minor and major structural defects, movement of the property, their implications and the cost of repair, dampness and integrity of damp-proof course, evidence of dry rot, woodworm (or other insect infestation) and other damage to timber work such as floor and roof joists, roof and wall insulation, drainage problems such as root damage or hidden leaks, details of the materials used in the construction of the property and their condition – such as flat roofs, rendering; structural timber, chimney pointing etc and lastly technical information such as condition of wiring, water pipes, heating and gas and security.
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For those homeowners who are happy where they are but simply want a bit more space, they might wish to consider a
home improvement loan as an alternative to moving. Homeowners wishing to carry out home improvements on their properties could consider a home improvement loan as one of the many options available. A secured loan could help finance a number of home improvements whether they include simple redecorating or larger projects such as an extension or refurbishment of a kitchen or bathroom. Exterior improvements could also be financed with a home improvement loan such as new double glazing windows for properties in city centers or busy roads, or even general structural upkeep like cleaning the stone of a Victorian house. Made payable over a term to suit the borrower from 5 to 25 years, a home improvement loan could essentially add value to a property. Extra rooms and a modern kitchen could make homeowners feel like they have a new home without all the hassle of moving.
