80% want home info packs?

[confidentincompetent]

I read on the odpm site that 80% are all in favour of this house info pack.
Did anyone ask you? wonder how many that were asked actually own a home ?

 

[breezer]

i hear they only wanted it so if the heating doesnt work they can burn it

 

[felix]

There is an argument in favour. Consider what happens at present.

1) You want to buy a house and you need a mortgage.

2) The building society recently turned bank says "we'll need a valuation and you're paying".

3) They send round their approved expert who, for a fat fee, looks it up and down then gives the OK.

4) Your plans fall through and you have to drop out.

5) Somebody else who wants to buy the house goes to the same bank.

6) They say "we'll need a valuation and you're paying".

7) They call their approved expert who, for a fat fee, prints off a copy of the valuation he's already done.

8.) Their plans also fall through so a third mug goes to the bank for a mortgage ---

There's a certain logic in doing all this stuff just once and adding the cost to the selling price. The devil is of course in the detail. The info pack will be a complete waste of time and money if the banks refuse to accept it.

 

[Big_Spark]

When introduced in 2006 it will be a legal requirment, so the Banks have no choice. This type of pack is already done for commercial operations, such as office building and shopping complexes tec. The devil is in the details as stated, and so long as the packs contain the relevent information and not too much uneccessary technical jargon, then I think they are a good idea and about 30 years overdue.

 

[david and julie]

so the Banks have no choice. This type of pack is already done for commercial operations, such as office building and shopping complexes tec

Engineer, I make a living out of industrial property but haven't heard of this, are you saying I'm going get even more paperwork!

I would of thought the idea behind these packs is to create work in a non inflationary way and at no cost to the Gov, indeed they will probably even make somewhere along the line too. Heads they win, tails we lose, again.

 

[Damocles]

I thought a year or so ago there was a bit of fuss about this and several of these banks said they would not be willing to rely upon the information in the pack and would still insist upon their own valuation report anyway. If the report is even less useful than a standard building society valuation, what good is it?

 

[confidentincompetent]

Hmmm its the goverment appointed inspectors (snoopers?)bit i'm wary of. This will make it more expensive than the £600/700 figures they're quoting. When it happens tho I guess the winners will be first time buyers the real losers will be old folks goin into care etc as they will have to supply the pack.
Its strange we english are just accepting all this crap, creating more jobs for expensive council workers. Looks like we will need buildings control just to sell our own property!!!