BEWARE: “ROGUE HIPS”!

Since 14 December 2007 all properties that are marketed for sale must have a Home Information Pack (“HIP”). A recent report published in the Law Society’s own journal (“Law Society Gazette”) has identified that a sudden demand has led to competition in the market for HIP providers. Unfortunately, this has led to some providers cutting corners by compiling invalid and substandard documentation to make their HIP’s cheaper than their competitor’s products in order to attract more clients. The report goes on to suggest that some HIP providers are either unaware or choose to ignore the HIP’s regulations.

It makes clear that a HIP provides valuable information about a property at the start of the process. You must ensure that you instruct providers who are registered with the Property Codes Compliance Board. You must check with your solicitors that all the information provided in the HIP is in compliance with the current regulations. Your solicitor must ensure that the Home Information Pack contains an ‘Official Copy’ from the Land Registry and title plan and not the ‘Register View’ of the property. An Official Copy is an encrypted document and the Land Registry will stand by if there is an error however, a register view does not provide such protection.

The Report clearly identifies concerns for prospective sellers. At Turbervilles, we always recommend our clients to instruct us to compile the HIP for their property. We do not cut corners and make no charge for compiling the HIP other than usual disbursements. We can prepare a HIP within 3 working days of instructions so that your property can be marketed almost immediately by then. Our terms and condition apply for this service, for further information please contact: Hugh Sachdeva on 01895 201700 or email us. graphic blocks