Renewed Call to Scrap HIPs!

07 Apr 2008

Tories renew their call to scrap HIPs

The Conservatives have renewed their call to scrap the controversial home information packs (HIPs), branding them as a bureaucratic farce and a complete waste of time.

The packs were intended to speed up the house-buying process and reduce the number of abortive sales by providing the buyer with essential details about the property.

However, their introduction had been beset by delays and reduced requirements, with the packs finally becoming mandatory for most residential properties in December.

The Conservative Party has continually voiced its opposition to the packs and vowed to axe the legislation should the party be elected.

Shadow housing minister, Grant Shapps, said everyone involved recognised that HIPs had failed in every aspect.

This latest attack follows recent criticism by the National Association of Estate Agents (NAEA).

The NAEA pointed to research conducted during the HIP area trials, which found that 41% of buyers actually felt HIPs were making the purchasing mechanism more difficult, and that only 20% saw the packs as speeding up the buying process.

Consumer magazine Which? also highlighted the dramatic variation in the cost, saying that it had obtained quotes for HIPs ranging from £234 to £534, depending on type and location of property.

Carl Chapman, Partner at Rowlands commented "HIPs appear to have had no discernable effect on the conveyancing process other than a shift of search costs to the Seller. In my experience estate agents have not been asked to produce them for inspection and the Buyers have not availed themselves of the information, leaving the legalities to their solicitors as before."

 

For professional advice in relation to HIPs or for a quotation on your Sale or Purchase, please contact Rowlands Residential Conveyancing Department.

Go back

 

RSS Feed Icon Subscribe to Rowlands' RSS feeds and have our latest news and free advice delivered directly to your inbox or news reader.