Dare we even mention H.I.P.s on this blog, the subject is so emotive among so many property professionals. The introduction caused wide spread dismay amongst many within the property profession and they have never quite settled down to be the magic bullet they were sold as. The whole process has caused wide spread problems, I for one know of several Lawyers and other professionals who set up systems to profit from their introduction only to have their plans scuppered by last minute changes as they were introduced.
Now we look to be nearing a conservative government with their promise to scrap the Home Information Pack what will take its place? A new less costly alternative? We will keep you updated as news breaks.
Home Information Packs set to be replaced not discarded by political changes
November 10, 2009
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To take the place of HIPs & be successful it needs to be fit for purpose. Something that joins up all the fragmented aspects of the home transfer process. Bringing together the legal & condition related information, the mortgage application process increases transparency in chains of transactions & provides a reasonable level of commitment by parties at the earliest possible stage, without the nonsense of a deposit system that would only serve to line the pockets of litigation lawyers. The first objective must be to get all parties who touch on the process talking & reaching a consensus on a way forward. That’s the tricky bit. Once that is achieved the rest of the problem is principally technology & funding.
Comment by Richard — November 11, 2009 @ 8:39 am