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HIP - what can you do if you have only just paid for one?
Comments
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What people don't realise is they will NOT save money!!
All the documents in a HIP are a legal requirement and the vendor will just have to pay for them themselves, the cost was quoted on the news at around £200.
A genuine HIP provider would only charge around that for a full HIP anyway.
It's the estate agents hiking the price up, you never needed to pay £3-500 for one. Currently solicitors are charging £7-800 for the searches, so trust me you will not be on the recieving end of this change
Most HIP providers will start the process straight away and have to pay and can't cancel so getting your money back may be difficult. Part of it may be possible but this happened so fast. What happened to the conservatives manifesto that said they would allow 100 days before scrapping.
Just another case of lying politicians!0 -
I suspect they are legally required until the legislation is revoked by parliament. An announcement of intent does not mean HIPs are no longer required. I would siggest you check with your conveyancing solicitor to be on the safe side.
They are suspended and no longer required. The legislation will follow in due course but as of tomorrow no HIP required for selling. Only an EPC needed.Squish0 -
Some HIP providers are doing refunds, but some have just shut their doors and are pretending no-ones there!
The move to abolish the HIP came, essentially, without warning so there's a lot of upset HIP providers outta a business.
Here's more on HIP Refunds0
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