With effect from 21 May 2010, it will be easier to get your
house on the property market, as it will no longer be necessary for
a Seller to obtain a Home Information Pack (HIP) before he or she
can put his or her property up for sale.
"This is excellent news for both sellers and buyers", said
Richard Whiteley, a conveyancing partner in Ellis-Fermor &
Negus solicitors. "With the exception of the Energy Performance
Certificate, the Home Information Pack did not add anything to the
conveyancing transaction that was not already there. They simply
added further complications into the process.
"It is not unusual for searches or title information in the HIP
to be sub-standard, and for people to have to wait weeks for a HIP
to be supplied. Now that the supply of title information and the
searches will go back to the solicitors, we should see a rise again
in the quality and relevance of the documentation supplied. This
move will reduce the cost and time taken in the transaction in many
circumstances, not increase them, as has been suggested by some in
the HIP production industry."
Although it will no longer be necessary to have a HIP, sellers
will still need to produce an Energy Performance Certificate within
28 days of the property going on the market. Richard Whiteley
commented, "If sellers don't have an Energy Performance
Certificate, they should contact their solicitor or Estate Agent,
who will either be able to arrange one for them, or put them in
touch with a local assessor".
For more information about Ellis Fermor and Negus, please visit
their website here: www.ellis-fermor.co.uk