After conflicting reports from the Government it appears that after listening to stakeholders the Government has decided to extend the temporary first day marketing arrangements which were due to change on the 1st June 2008.
The situation will remain - until December 2008 - that provided a pack has been ordered and paid for or provisions are shown to be in place for a payment option (such as a deferred or consumer credit agreement) that the agents or seller may begin marketing the property. However, be aware that Agents particulars must contain an EPC Graph before distribution. This is an error that is continually being reported and Trading Standards Officers are likely to be more vigilant now that these rules have been extended.
Items including the Index, Sale Statement, EPC, Title and Plan need to be compiled immediately (together with a SIM and Evidence of Root of Title where unregistered) but the remaining items including Searches, copy of Lease etc can be added within 28 days.
There will continue to be relaxed regulations concerning Leasehold properties in that the Lease is the only required document but the regulations indicate that the following items could be added within 28 days if they are available to provide as much Leasehold information as possible:-
Rules or Regulations of the Management Co. or Landlord; Service Charge Accounts for the last 3 years; Recent requests for Ground Rent, Service Charge, Insurance Premium or other related charges; Names and Addresses of Landlord, Managing Agents or other parties; Deeds of Variation or proposed amendments to the Lease; Outstanding or current bills for works carried out to property and pending disputes or matters referred to the Leasehold Tribunal.
The Government has confirmed that they are continuing to speak to Stakeholders to see how they might improve the contents of HIPs to provide better and more detailed information in the future and how access to this information can be improved.
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