First Direct Don't Like my Hip

Tomsdad67

I have been contacted by my solicitor today to confirm that they have received the legal pack to go with the Offer I have received from First Direct.

However, it turns out that First Direct are not prepared to accept the Local Search that was completed as part of the HIP that has been
prepared on the property I am buying.

Aparently First Direct / HSBC will only accept an official Loca search prepared by the local authority and will not accept the online local searches often included as part of a HIP.

As a result I am going to have to pay an extra £160 to get this Official local search and also delay exchanging by a further week.

My solicitor who for the record to date have been excellent!!!! tell me that most lenders are happy to accept the online local search that normally forms part of HIPS and First Direct/ HSBC are one of the few lenders still sticking out for the Official Local Search.

Has anyone come across this before? as this is not only additional expenditure but is also delaying our exchange by a further week!!!

_Andy_

If they don't accept it then that's their criteria - grin and bear it. Whether other lenders accept it or not isn't relevant as you're not dealing with them.

opinions4u

Your solicitor has to go with your lender's criteria.

Hopefully HIPS will be abolished as a waste of everybody's time and money.

stagey_2

opinions4u wrote: »

Your solicitor has to go with your lender's criteria.

Hopefully HIPS will be abolished as a waste of everybody's time and money.

it was announced tonight on a tv news bulletin that HIPS are being abolished except for the EU requirement of the EPC . HIPS will fade away naturally.