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Monday's deadline could see some HIP providers fall at the second hurdle

London : 9th September 2007 -- The extension of the Department of Communities and Local Government Home Information Pack scheme to include 3-bedroom properties will test many HIP providers and could leave some floundering. That is the view of Rob Hailstone, CEO of leading HIP supplier Hipag Services.

Says Hailstone, 'Managing HIP production so far has been relatively easy, since most homes in the 4-bed bracket are registered freehold properties. At Hipag we have had a few unregistered properties and we have still been able to deal with them quickly and efficiently, in fact our very first HIP was for an unregistered farmhouse in Suffolk which we completed in only 6 working days.'

'But the real challenge,' says Hailstone, 'comes from Monday, when 3-bed properties are included, both because there will be a substantial increase in volume of HIPs and - more importantly - it will include more leasehold property such as flats, and compiling a HIP for a leasehold property is technically and practically much more complex and challenging.'

'Any estate agent ordering a HIP should make sure that their supplier can handle these complex and technically challenging HIPs. Most Hip suppliers should be able to compile a HIP for a registered freehold property but it takes years of experience in conveyancing and some real know-how to compile a HIP for a leasehold property quickly and efficiently.

Problems are now likely to arise, believes Hailstone, because some HIP providers simply do not possess sufficient depth of knowledge or have immediate access to lawyers experienced in the legal subtleties of leasehold properties that would enable them to cope with significant numbers of complex packs. Hence his prediction that ‘Monday’s deadline could see some HIP providers will fall at this latest hurdle.

'Hipag Services has been built with an experienced conveyancer at the helm', he says. 'Many HIP providers have been set up simply as production line businesses but don't have that experience at the core - so when 3-bed properties are included I predict we could see some HIP suppliers floundering’.

‘At the same time, it’s important for all involved in property sales to appreciate that a ‘market-ready’ HIP is not an ‘exchange-ready’ HIP, and that it requires a dedicated and knowledgeable HIP production team such as Hipag’s, to get to the point of exchange as rapidly as possible.’

Estate Agents can learn more about the benefits of joining Hipag by visiting the website at www.hipag.co.uk or by phoning 0845 375 2890.

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Editors Note:

About Hipag Services

Hipag Services Ltd (www.hipag.co.uk) has been formed to assist independent estate agents and high street solicitor practices in England and Wales produce HIPs quickly and efficiently. Hipag currently has over 3,000 registered members, from Cornwall to Cumbria, who it will work in co-operation with Hipag to produce HIPs rapidly, enabling property sales to proceed without delay.

Hipag’s membership includes independent estate agents, high street solicitors ,home inspectors and domestic energy assessors who will prepare the Home Condition Reports and the Energy Performance Certificate.

Hipag Services has the financial backing of the OyezStraker Group, the UK's leading independent office products and business services company with 1,500 staff and £200m turnover.


For further information visit www.hipag.co.uk or contact:

Rob Hailstone, CEO, Hipag Services
T: 020 7565 3985

Jacqui Green, Jacqui Green Marketing & PR
T: 020 7808 0113/ M: 07885 2670 349

This press release was distributed by ResponseSource Press Release Wire on behalf of Jacqui Green Marketing in the following categories: Home & Garden, Personal Finance, Business & Finance, Public Sector, Third Sector & Legal, Construction & Property, for more information visit http://pressreleasewire.responsesource.com/about.