Home Information Packs (again!)

I know I keep banging on about this, but it is my view that a combination of inadequate consultation by government, vested interests in the property industry trying to stifle change and competition on price rather than value resulted in a huge missed opportunity. Home Information Packs, properly prepared, can be of great benefit in streamlining conveyancing, to the benefit of all concerned: buyers, sellers, agents, solicitors.

However, the crucial term is "properly prepared" - HIPs that take no account of the individual property and its idiosyncracies are almost useless - basically a waste of paper. On the other hand, a properly prepared and comprehensive HIP enables the buyer's solicitor to report on a very large part of the transaction at a very early stage, highlighting potential problems and outlining the scope of further investigations that might be needed

With a good HIP, we are usually waiting only for the draft contract and full property information form (both of which could, in my view, be included in the HIP in the same way as for an auction) or the mortgage offer (or both!) before a buyer client can exchange contracts

HIPs have the potential to do almost everything the government claimed for them, but they need to be properly prepared, not prepared on the basis of the cheapest that complies with the regulations.

I have revisited this subject because Rob Hailstone of HIPAG (Home Information Pack Action Group) fame is forming The Bold Group to campaign for "proper HIPs", and so I have been stirred to post again

Will the Tories scrap HIPs?

Comment from Rob Hailstone of HIPAG -

"Grant Shapps has recently reiterated his intention to "scrap" Hips. What he hasn't said publicly, is whether he will amend or replace them. However, the Conservatives have made it clear that they want to improve the home buying and selling process. It is therefore, highly unlikely that Mr Shapps will allow us to go back to the home buying and selling process, as it was, pre Hips.

"When the Conseravatives held their own home buying and selling review last year it was made clear to them, by Owen Inskip and Kirstie Allsopp, that whatever format the Hip eventually takes, providing 'information up front' will be essential. As an ex conveyancer I believe we should build on the developments made over the last few years so that creating a property legal pack, that is as 'exchange ready' as possible, should become standard practice.

"It has to be accepted that the political situation is not as clear as it was a while ago, the Conservatives winning with a safe majority is not a forgone conclusion. Mr Shapps might not even become Housing Minister and scrapping Hips will probably be way down the Conservatives 'to do' list, after Afghanistan, the economy, health, education etc. Some pundits now forecast a March election but it would appear that the safe money is still on an election in May.

"Whatever the outcome politically, I believe that Hips will either be with us for a while or any worthwhile replacement pack will still require the involvement of a good Hip provider and a local solicitor/conveyancer."

For what it is worth, I agree completely!