Improve HIPs

There has been a lot of talk from the Conservative party about scrapping Home Information Packs if and when they are elected.Pali has been providing Conveyancing Searches to Solicitors and Property Professionals since 1999. With the introduction of Home Information Packs in 2007 their client base expanded to include HIP Providers, Estate Agents and members of the public. The website Hipview was set up to assist people in the ordering, tracking, viewing and storing of Home Information Packs.While the company has changed to accommodate the new legislation of the Home Information Packs, it is not reliant on them. However it is Pali’s opinion that they should not be scrapped, but instead worked on to improve them and fulfil the function they were originally put in place to do.The main objectives of the HIPs should be:• To give potential buyers information upfront on properties they are considering purchasing.• To speed up the conveyancing process.• To cut down on duplication of reports being purchased by multiple potential buyers.• To give all interested parties information of energy consumption and CO2 emissions, indicating where financial savings on fuel bills can be made and reducing climate change.Taking these points into consideration, improvements could be made certainly on the first two. The Home Information Pack was originally intended to include a condition rating on the property in the form of a Home Condition Report. In Pali’s opinion this was the most important and useful element of the pack for potential purchasers. When the Labour Government decided to make this document optional it seriously damaged the pack. If the Home Condition Report, or another similar survey was re-introduced as a required component, in Pali’s opinion, the packs would be of much more interest to potential purchasers and save hundreds of pounds on wasted surveys.Home Information Packs have undoubtedly all ready speeded up the conveyancing process, however it doesn’t go far enough. With the implementation of an Exchange Ready HIP, the conveyancing process could be much quicker. The Exchange Ready HIP would have a lot more information added to the HIP which would normally be enquiries made by the purchasers solicitor once sale was agreed. Other documents can also be included such as fixtures and contents forms, draft contract, the Property Information Form etc. It would be advisable that the Exchange Ready pack be produced in association with a Solicitor, however AHIPP are currently working on a form, the PDQ, which would cover most of this information.Simply implementing both of the above points would make the Home Information Pack a much more worthwhile product, but they are by no means the only improvements which could be made. What is certain is scrapping the HIPs completely would be a mistake, with a little more work all of the time and effort which has brought the packs to this point would not be wasted. In scrapping them and going back to the drawing board the added expense would be phenomenal. One thing most people are agreed on is the process buying and selling of property needs improving and information upfront seems to be the best way to achieve this goal.Your comments are welcome.