Finally - the end of HIPs

peachyprice

alanmilstein wrote: »

In most cases the solicitor for the purchaser of a property would make use of the searches, so saving the buyer from paying for them.
Having all the title and search information available from day 1 of the transaction also made the solicitors job easier by enabling them to pick out potential problems and deal with them at an early stage. This is especially the case with unregistered titles.
My own experience, as a HIP provider, is that they were a useful first step but very much a "work in progress" project.
Had they been explained properly to the public then those benefits that are gained would have been appreciated.
So what will happen now?
It looks like we will return to the pre-HIP days when we all had to delay the buying process while we wait for the seraches and title information (again, especially with unregistered titles) to arrive.
What a great way to start a "reforming" Government!

There's nothing stopping you still providing them to sellers who want to use them on a voluntary basis though, I'm sure there are still sellers out there who would be happy to provide a voluntary HIP if it speeds the sale along.

timmyt

kmmr wrote: »

A triumph for common sense.

All they ever were was a waste of money in my opinion. Never even saw the one for the house I bought last year.

http://blogs.telegraph.co.uk/finance/ianmcowie/100005668/hip-hip-goodbye/

I doubt they will go without something mandatory in their place. Watch this space.

(had there not been a property slump with hosues staying on the market so long, and HIPs becoming out of date, they may not have received such bad press, as a HIP with current searches can make the deal go through in days)

timmyt

Arthurian wrote: »

:eek: Surely a solicitor shouldn't rely on information provided by the seller instead of sourcing searches himself? Where's the due diligence?

wow, has no lawyer thought of that...oh yes, the HIP regulations expressly state they can rely on it

Squish_21

Do we know when the HIP scrap will take effect?

<sebb>

I actually thought they could have been quite useful, if I thought I could rely on any of it.

As it were, if my seller had bothered to actually tell the truth on his PIQ then I wouldn't now be down £1000 in fees and still no flat.

As it were, he lied about the council tax banding, said there was allocated parking when in fact there was no parking and no possibility of getting a permit to park there EVER, claimed to have got building regs and planning permission for major works that I later found out was lies. If he'd told the truth on the PIQ about those things I would never have got as far as appointing the solicitor on that purchase.

laurel7172

Buying a house involves a lot of upfront costs, and I think sellers should have to prove they're serious, and the HIP was a step in the right direction. Actually, I think a seller who agrees to a sale and then pulls out should have to compensate the buyer for searches/surveys/solicitors they've paid for. But I don't suppose that's a popular view either.

Barneysmom

They need to update the website soon.....
http://www.direct.gov.uk/en/HomeAndCommunity/BuyingAndSellingYourHome/Homeinformationpacks/DG_171807

azkaban420

Great, my brother just paid for one yesterday...I didn't realise they'd bring it in so soon...any ideas when it will be scrapped officially?

Az

vet8

I have read that the vast majority of buyers never even look at these HIPs. It is something like 90 % of them are never even opened, so they are a waste of time and money.

The theory is good, but they just never seemed to be the right thing.

shane42

what is the epc likely to cost now?