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Date: Mon, 17 Oct 2005

The Home Buyers Pack or to use its official name the Home Information Pack is an initiative that is being launched by the government to help the housing market in England and Wales work in a more effective manner for all parties involved. There are going to be many stages in the build up to full implementation of this initiative between now and its full launch, planned for early 2007.

Each pack is likely, on average, to cost approximately £635 which it must be noted will not be an additional cost as many of the items in the pack are already required under the current system, such as terms of sale, evidence of sale, standard search replies, planning consents, building control certificates, warranties and guarantees and a home condition report regarding the physical condition of the property to name but a few. It is also likely tat these costs will be able to be paid later in the stage of the process in much a similar way to estate agents fees, removing the burden of these costs until a time when money is already available.

Home Buyers Packs are there to tie in all the various documents that are sought after and placed together to make the whole process run more smoothly and more transparently for each party with the plan to reduce the time between acceptance of the initial offer and exchange of contracts from the current average of 8 weeks to meet the overseas average of just 4 weeks.

Home Buyers Pack Information from Endsleigh Financial

Should you wish to find out more about Home buyer packs or find a suitable mortgage for your circumstances please click here and complete our short mortgage/contact form.

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Endsleigh Insurance Services Limited is authorised and regulated by the Financial Services Authority. This can be checked on the FSA Register by visiting its web site at www.fsa.gov.uk/register.
Endsleigh Insurance Services Limited. Company No: 856706 registered in England at Shurdington Road, Cheltenham Spa, Gloucestershire GL51 4UE.