HIP advice

gabymum

Friends have had their house on market for past 10 months. They need to move due to loss of employment. They paid £100 upfront for the HIP but now have to pay the other £280.00 as the house hasn't yet sold.

Obviously this is going to be difficult, anyone now of any ways of getting assistance?

Cannon_Fodder

HIPs are a bit of a minefield. Bits of them go out of date, although the overall HIP can stay valid...

What are they saying the £280 is for?

Is it just the "balance", that was always going to need paying? £100 sounds too cheap, was that a partial payment?

When selling, there are going to be solicitors fees, possibly stamp duty, moving costs, etc etc...have they made no provision?

Is it an EA provided HIP? They could try telling the EA that as they've been so rubbish at selling the house, they want the EA fee to absorb the HIP cost...and drop the price to sell quick.

happybroker

£280 sounds about right for the HIP and £100 sounds about right for what the EA will put on top for themselves.

This sounds like one of the "pay later" deals and this should have been clearly explained to your friend at the outset. It's unlikely it will be waived unfortunatley.