The Demise of the HIP

A great concept - sabotaged at inception

 

The Home Information Pack - no longer!


 

 

The Home Information Pack was suspended pending abolishment in May 2010 by the new Lib-Con Government. In Scotland, the HIP is very successful as it has been improved to contain a valuation and a Home Condition Report.

The HIP as applied in the UK was poor in comparison to the Scottish version and indeed thought of as an unnecessary cost to the seller. However properly applied is would have considerably modernised the Home buying process and SAVED considerable money for Home buyers.


 

 

 

 

 

 

IF YOU HAVE A CORNWALL HOME ENERGY SUPPLIED HIP- REST ASSURED!

  • The EPC component is still compulsory and now valid for 10 years
  • ALL the HIP searches are still legally required and necessary for your Solicitor to convey the property, so you should be credited for each search
  • At around £240 for the full HIP, you could be in-pocket as a result.

 

 

 

 

 


Home Information Packs (HIPs) contained information and legal documents about a property. All this information was traditionally collected by the Solicitor or Conveyancer prior to contract and are still all required to exchange contracts but with the HIP they must be provided before marketing the property so that prospective buyers have the information immediately.

The Office of Fair Trading had just issued a report confirming that the HIP has brought down the price of selling a property and considerably shortened the buying process.