Home packs mandatory from June 2007
The government has announced today that home information packs will be compulsory for people looking to sell their property from June 2007.
Home packs are designed to reduce costs to consumers buying property and ensure that only serious sellers put their houses up for sale.
It also hopes that introducing the packs will help reduce the number of sales that fall through.
The government claims that currently, £1 million a day is wasted on valuations, legal advice and searches on transactions that ultimately break down.
Housing minister, Yvette Cooper said: 'Too many sales fall through because of delays and late information, wasting money and causing great stress for buyers and sellers, that's why we are introducing the packs.'
If you are buying a new home, it is vital that you don't forget to budget for your home insurance.
Home insurance will protect the value of your investment. | 
