Down with HIPs and About Time Too, says Lorraine Stratton-Webb at Clough & Willis Solicitors

With the news that Home Information Packs (HIPs) are being scrapped as of Friday 21st May 2010, Lorraine Stratton-Webb, a partner and property solicitor at Clough & Willis, shares her thoughts on the removal of Home Improvement Packs.

'Like many specialist property solicitors, I welcome the immediate scrapping of HIPs by the Government. They were introduced in 2007 against the strong advice of both The Law Society and also by many experts, including ourselves. The idea and intention were both good, in theory. The general aim was to speed up the conveyancing transaction by having information provided upfront at the time the house was placed on the market. Failure to adhere to the requirements would leave a seller liable to fines. However, the way the process was structured meant that promise wasn't delivered and instead an extra layer of bureaucracy was created that delayed properties going to market and meant an additional cost burden to a seller which put many people off.

The other key role of HIPs was to enable the housing stock in the UK to be energy rated via an Energy Performance Certificate. No-one would disagree that they are of use so they have been retained at an average cost of £60. This needs to be produced within 28 days of the house being placed on the market.

All in all, HIPs significantly failed to address the question of how to speed up the house buying process. Their scrapping is good news for sellers who no longer have to spend hundreds of pounds for a bundle of papers that very few people look at and it is also one less deterrent for sellers who may want to test the water by placing their house on the market.

For more information about residential property and equity release contact lorraine.webb@clough-willis.co.uk