The Conservative Party has announced it will be scrapping Home Information Packs (HIPs) in England and Wales, which has caused confusion in Scotland over whether Home Reports will also be axed.
But Edinburgh’s top property solicitor Warners has stressed that, despite the sweeping changes planned in England, the Home Report legislation will remain in effect in Scotland – and added that it remained a beneficial addition to the country’s property market.
Scott Brown, estate agency partner at Warners, said: “Ever since the Conservative-Liberal Democrat coalition took power, there has been some uncertainty about what’s going to happen to the property market. It’s well known that the Conservatives have been planning to scrap HIPs for some time, but many people in Scotland are confused as to whether this will extend to Home Reports.
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“We’ve already had a number of calls from people in Edinburgh who are either buying or looking to sell their properties and who are concerned about the legislation. They have been asking whether they still need a Home Report to be able to sell their property or not, now that there is a new government in place.
“Therefore it’s important to stress that the Home Report legislation is governed through the Scottish Parliament, so the new coalition has no control over it at all. If you’re planning to sell a property in Scotland, you will still need to have a Home Report in place and if you’re buying, you will be able to request to see these reports before purchasing.”
Scott adds that since being introduced, the Home Report legislation has been beneficial to Scotland – as the reports have created a state of realism in the country’s property market.
He added: “Home Reports have actually been very positive for Scotland, so axing them would be a bad move for the property sector. They have created a greater sense of realism among buyers and sellers, as these people are now able to use property valuations contained in the reports as a marker when judging how much to buy or sell a home for. It also means that more homes are being sold for ‘offers around’ prices, which is helping provide even more transparency in the market.
“I would therefore like to see the Scottish Government reassuring people in Scotland that Home Reports are here to stay, regardless of what happens at Westminster.”
Warners, which has four property shops in Edinburgh, has been the Capital’s leading property solicitor in terms of property sales and listings for the past 11 years.
(GK)
