Comments on: Scrapping Home Information Packs – Ins & Outs

By: Ben

Ben — Thu, 20 May 2010 10:16:33 +0000

Clearly the DCLG didn’t know what they were taking about

http://business.timesonline.co.uk/tol/business/industry_sectors/construction_and_property/article7131575.ece

My dissertation concluded that the HIP was a waste of time, money and would not speed up the selling process. I also concluded that it should not be brought in having spoken to estate agents, chartered surveyors and solicitors. Thankfully, someone saw the sense in my arguments.

I think the only place where a HIP is necessary is for auction properties.

By: Alan

Alan — Wed, 19 May 2010 17:16:43 +0000

It’s lucky I’m not a solicitor or involved in the conveyancing process then. Just firmly believe the public have been ripped off for long enough with HIPS. Of course HIPS providers and personal search agents wouldn’t have a vested interest in this either.

By: HIP-Consultant.co.uk

HIP-Consultant.co.uk — Wed, 19 May 2010 06:43:37 +0000

Hi Alan,

“…. but I have been reliably informed that an order has been signed to scrap HIP packs.”

Would you care to share by who? as the DCLG told us it was rumour and speculation

The Law Society and solicitors are considered by most as having a vested interest in the home buying and selling process

By: Alan

Alan — Wed, 19 May 2010 06:37:37 +0000

I have no vested interest in this (not being a Hip Provider or seller) but I have been reliably informed that an order has been signed to scrap HIP packs. I wish people would stop speculation that conveyancing costs will increase as this is not the case. Solicitors are frequently having to replace documentation in HIPS packs anyway because searches are often considered out of date or inadequate which is increasing costs to the purchaser who if they are also a vendor will have paid for a HIP pack and then find when they purchase that are paying for much of this work to be duplicated.

By: HIP-Consultant.co.uk

HIP-Consultant.co.uk — Tue, 18 May 2010 17:27:16 +0000

We have spoken to DCLG today regarding possible suspension of HIPs. DCLG confirmed that the rumour that(over the weekend and Monday)HIPs would be suspended and an ‘order’ had been signed is untrue. A DCLG spokesperson told us they did not know where this ‘claim’ came from and appeared to them as pure speculation.

We are not going to speculate on where these rumours may have come from, however it is clear they help to provide a de-stabilising affect which does not help home buyers and sellers.

By: HIP-Consultant.co.uk

HIP-Consultant.co.uk — Tue, 18 May 2010 17:18:17 +0000

Hi Millie

Can i just confirm it was not us that advised you to hold off with the HIP.

I can only speak for ‘us’, however most HIP providers wont be insured to offer advice on when and if you should market your property.

Imagine a scenario where you hold off legally marketing, waiting for HIPs to be scrapped and the market tumbles by say 10% or VAT goes up and HIPs stay. Will you be able to claim from the HIP provider for the amount you would have ‘lost’ from waiting?

There is uncertainity at present, however at the time of writing you do need a HIP to legal market your property. The last official information we had from Grant Shapps office was that they would hold a consultation (see http://www.hip-consultant.co.uk/blog/conservatives-to-consult-on-home-information-packs-hips-123/ )

By: Millie

Millie — Tue, 18 May 2010 16:13:33 +0000

I have had a HIP provider at my address tonight and they have recommended not getting the HIP done as they believe it will be officially scrapped within 7 days and are advising their clients to wait. They stated that the EPC will still need to be done though.

By: dave p

dave p — Tue, 18 May 2010 16:00:58 +0000

there seems to be alot of speculation going on, with claims of this and that but cant find anything solid. Are they suspended or not?

By: Chaos causer

Chaos causer — Tue, 18 May 2010 11:34:57 +0000

Well done to the tories.. a week into their government and causing complete uncertainity in the property market. They have had years to plan and now stumble at first hurdle and can not make a decision.

You can not mess with an industry and peoples levelihood like this. O yes you can, i believe you did with miners, watch out North East they will be at it again

Be a good day when Vince Cable brings them crashing down.

By: jonathan scholes

jonathan scholes — Mon, 17 May 2010 21:30:40 +0000

you need to remember wyndham, that should you be buying another property and HIps are scrapped, then you will be saddled with paying your solicitor to carry out searches to the local authority and the water companies, office copies from the land registry and increased conveyancing costs to carry out hese tasks.

therefore you would not be saving any money at all if HIps are scrapped.

your passage is another example of an ill informed conclusion – maybe you should become a politician!