Home Improvement Pack

[warpig3]

Hypothetical question. If I was to buy a new build would the vendors (building company or developers) have to supply me with a HIP?

Also if I bought a new build to make a quick buck and sold it immediately it was completed could I use the HIP provided by the developer (presuming the answer to my first question is yes)?

Many thanks
warpig

[warpig3]

Just read that the HIP has been put back to 1 Aug 07 and will only apply to house with 4 bedrooms or more, ha, ha, that really made me happy, the whole thing was a crock of sh*t anyway, imo.

[a.holian]

remember that you will have to pay capital gains tax on any second home when more than one is registered in your name. you dont pay it if you only have one registered in your name and you intend to sell it, but you have to prove that you have lived there so council tax bill needs to be paid to prove this has been your residence.

[fanman]

when the hip comes in (and it will) all that is happening is the costs are moving from the buyer to the seller

at the moment when you want to buy a house and your offer accepted you go to solicitors and instruct them,pay them �400 ish and they do your searches,land registry etc.

with the hip the seller does this before house goes on market and costs buyer nothing (unless he is selling a house, then the same happens)

i am sure you can see this will benefit 1st time buyers and also cut down on solicitors making so much money for nothing
if the sale falls through then someone else makes an offer then it all get repeated and solic makes more for the same

hip system - its done once and paid for once

stop moaning about the hip- you are frightened of change
12 months from now it will be the norm and everyone will be wondering why it hasn't always been that way

trust me
i'm a home inspector......

[warpig3]

Thanks for the advice guys, a.holian, yes, I am aware of the capital gains tax, but did you know that if you register your name and that of another on the property you are entitled to twice the amount (ie �9,500 limit for one person, �19,000 limit for two people) or so I am told, will have to check it out though!