HIPs Update - 8th December 2008
WHY USE SARGINSONS LAW TO PROVIDE YOUR HIP?

 

1. We are regulated by the Solicitors Regulation Authority and we are insured if things go wrong. Companies claiming to be HIP providers are not regulated in any way.

 

2. Some Estate Agents will no doubt provide a HIP on the basis that payment can be made when the property is sold. If your property does not sell and you wish to instruct another agent you will then have to pay for the HIP. The new agent may insist on similar conditions requiring another HIP. This means that you will have to pay twice. If Sarginsons prepare the HIP it will always belong to you and you will not be charged if you change Estate Agents

 

In an uncertain market of expected interest rate rises following the introduction of HIPs you will be in a more favourable position if you own the HIP on your property.

 

For more information visit:

 

Home Information Packs.gov.uk

In this section

On the 8th December 2008 the Housing Minister Margaret Beckett announced "a new package of measures to ensure consumers receive improved information in the home buying and selling process".

In truth these measures amount to the following:

  • The existing transitional arrangements relating to the production of Home Information Packs is extended until the 5th April 2009.  These provisions allow a property to be marketed provided a Home Information Pack has been ordered and there is an expectation that all the required documents will be available within 28 days.
  • As from the 5th April 2009 a Home Information Pack must contain a Property Information Questionnaire (PIQ).  This is very similar to the Property Information Forms now used as a matter of course by solicitors in all conveyancing transactions.  The Minister says that the PIQ will include flood risk information though how a yes/no answer given by a seller will assist the buyer is not entirely clear.
  • The requirement to provide only a copy of the Lease in the Home Information Pack rather than the raft of information originally envisaged by the regulations will be made permanent from the 5th April 2009.  In this case the Minister obviously considers that providing less information is giving benefit to consumers.

The rest of the statement refers to proposals for yet more consultation about delivering better service and the exploration of "ways of making sure consumers have appropriate information about their future property's condition".

Reaction to the new measures in sections of the media has been somewhat predictable.

In practice the statement though dressed up as a dramatic move is nothing more than a slight tinkering with the present arrangements.

Sarginsons Law can produce your HIP in paper and electronic form in one document. The electronic document can be sent to you, your agents and prospective purchasers in one file.  The price for a hip of a freehold property in Coventry is £248.01 including VAT and disbursements.

If you are considering selling your house it is important that you contact a solicitor first. If you have any questions or would like to discuss Home Information Packs further please contact us at : hips@s-law.co.uk or telephone us on 024 76553181.

 

Order a Home Information Pack online

5th February 2012

Sarginsons Law