REsidEnTialsales
Mike Ockenden, Director
General, Association of
Home Information Pack
Providers (AHIPP) says that
agents will like the new
exchange-ready pack
V
eterans to change, the HIP fittings form and copies of planning
industry has been kept permissions and building regulations
incredibly busy over the past consents are all included.
couple of months, preparing for By compiling the necessary paperwork
and then embracing the amendments to at the beginning of the transaction, the
First Day Marketing legislation and the exchange-ready pack is set to further,
introduction of the compulsory Property substantially speed up the time taken
Information Questionnaire, which came between an offer being accepted and the
into force on April 6. The date marked a exchange of contracts and so it will help
significant step forward in the progress of reduce the chances of a sale falling through.
HIPs and early indications suggest that the A long standing Despite the ERP being a voluntary
new legislation has been integrated document, several of our members have
seamlessly, although it will take time before opponent of HIPs, already been offering these packs for some
the processes become fully embedded. time, with great success, reporting positive
AHIPP is now looking to move the packs Grant Shapps MP, feedback from agents, solicitors and
on to the next stage, promoting the use of
an enhanced, exchange-ready pack to endorsed the
consumers alike. One member’s statistics
show that the time taken from offer
increase the benefits for consumers.
At a recent industry forum (The Land exchange-ready
accepted to exchange averages 25 days with
an ERP, compared to 80 days without and
Data Great Housing Market Debate), I was
pleased to see that, during a quick straw pack as a
in one case, where there was a cash buyer,
the process took only seven days.
poll, over two thirds of professionals voted
in favour of adapting rather than scrapping ‘great idea’.
It is now our goal to make the ERP
more widely available and to raise
the packs – a significant and welcome step awareness of the potential benefits. To this
forward. While I do not deny that further end we have set up a panel of experts to
amendments may need to take place before look into the current providers of the ERP
the HIP reaches its full potential, what the to promote and identify best practice.
vote suggests and what the Tory party We know that Labour is already
should now recognise, is that there is an committed to making HIPs work.
appetite within the industry to work time taken to exchange by six days – a However, long standing opponent of HIPs,
together to improve the current offering. commendable start and good news for all. Grant Shapps MP, has endorsed the
HIPs aren’t perfect, but scrapping them Furthermore, despite their imperfections, exchange-ready pack (ERP) as a ‘great idea’
entirely would set us back years; we should there can be no denying that the packs and his open support is a welcome boost.
be looking to work with what we have to have acted as the instigator for change
make improvements and advance the HIP within the industry, paving the way for The Association of Home Information Pack
for the advantage of all involved. further improvements and innovation. Providers (AHIPP) is a trade body representing a
HIPs have come a long way and now, From the HIP, a new exchange-ready wide constituency of members in conveyanc-
ingrained within the home buying and pack (ERP) has evolved. Essentially, in ing, estate agency, search providers and HIP
selling process, have reached the point addition to the information already Providers. The Association has over 90
where they are able to make tangible included in the basic HIP, the ERP provides members. Go to:
www.hipassociation.co.uk.
improvements. Recent AHIPP member all of the additional documents needed by
research into 14,000 transactions found conveyancers, upfront. For example,
What’s your view of the ERP? www.
that, on average, HIPs currently reduce the environmental searches, a fixtures and
propertydrum.com/articles/hipsjune
PROPERTYdrum JUNE 2009 39
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