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CML: Mortgage arrears and possessions conference at the The Midland Hotel, Peter Street, Manchester, M60 2DS
Every man for himself
The sound of vested Home Information Pack (HIP) interests swarking like lame ducks following the Conservative announcement to dump them was predicable and of course if the likes of AHIPP did not, it would be an admission by them of the ill conceived idea that it is.
We all want a better and faster system to complete property purchases, but HIPs are not the best way forward. A far better way is to resurrect the law society’s proposed ‘transaction protocol,’ whereby the seller’s solicitor prepares the information pack, including the searches
There is no need for searches to be done at the time of marketing, and become dated quickly, nor the need for an energy certificate then. As for the Home Condition Report, this should be permanently consigned to the dustbin forever as the cost of this is only a stealth tax on the consumer to provide the government with information on homes in the country.
Efficiency, value for money for the consumer and some common sense is required to provide the solution. HIP’s are only a question, not a solution and progress on the basis of the law society’s ‘transaction protocol’ I believe will be best value and sensible.
Danny Lovey
The Mortgage Practitioner
