Doing nothing about HIPs is not an option, says Peter Ambrose
With the rollout of home information packs (HIPs) finally underway, it is becoming apparent that the initial fears of solicitors that they would spell the end of residential conveyancing appear to be lessening. Indeed, for many solicitors, workloads have never been higher, and the introduction of HIPs seems unlikely to dent their business.
The delay to the introduction of HIPs has definitely been a blessing to the property market and the initial four-bedroom rule means their impact on the house selling process has been significantly reduced. However, for solicitors, the question remains about how to get involved with HIPs and what is the most prudent approach.
Media coverage about HIPs only being required for four bedroomed properties or larger has raised awareness of this restriction. However, the triggers for the introduction of HIPs for smaller properties are less well known. The government recommended that when there are over 2,000 domestic energy assessors (DEAs) accredited, HIPs will be extended to three bedroom properties—a significant portion of the housing market. Although this milestone has been passed,
