Home Information Pack Solution (HIPs) Firsthips

News

Firsthips Review - May 2009 - For Lawyers


Agents' Review Welcome to the May 2009 issue of the Firsthips Review which includes news, advice and articles from the HIP industry front-line. We welcome comments and suggestions for additional content.

 

Delays and higher costs for searches

The introduction of new search regulations in April has resulted in significant increases in fees that councils charge for providing the additional information that is now mandatory. Not only have costs increased but in many cases local authorities are proving difficult over providing the information and arranging appointments for personal search companies. Some councils are making companies wait weeks for an appointment to get the additional information that is now required.

There are still a number of councils that have yet to publish their fees. For the time being Firsthips is able to continue the additional flat fee arrangement for its clients and will contact its clients as soon as any changes are proposed.

Firsthips joins e-Homebuying Forum

Firsthips has become one of the first members to join this new organisation that is dedicated to simplifying and speeding up the conveyancing process. The Forum has released its blueprint for the modernisation of homebuying in the UK and has set out what it believes are its most important goals to ensure a better and more reliable process for all parties. The three foremost aims of the blueprint are:

The Forum believes that the key to achieving these aims lies in a great commitment to technology. Firsthips has already developed an e-conveyancing platform that is an integral part of the Firsthips system and is currently researching and developing improvements to the system.

Questionnaires meet sellers approval

A survey carried out by another HIP provider has found that 96% of sellers complete the new Property Information Questionnaire in less than 30 minutes, with most of them believing that the information provided will be useful to the buyer. There was concern that many sellers would be hostile to the PIQ forms but that has not turned out to be the case and the new forms are not causing any unnecessary delay to the sale process.

Exchange ready HIPs are here

Work is currently being undertaken on an extended version of the PIQ to bring it more in line with the form that is recommended by the Law Society for solicitors to use. The current PIQ has useful information for a buyer but does not go into the depth of the full Property Information Form ("PIF") used by solicitors. Once a buyer has been found the seller will be expected to complete the PIF so it really makes sense to get this done as soon as possible and potentially at the same time as the PIQ. The PIF often has to be accompanied by other documents such as copies of planning permissions, building regulation approvals and maintenance accounts for leasehold properties, and again it makes sense to have all this information available as soon as possible.

The Firsthips system was designed at the outset to handle all the additional information that will be required in a full exchange ready HIP and Firsthips will be piloting trials of the new forms as soon as they are available. Firsthips are having discussions with the Land Registry who are intending to convert their existing online process to a fully electronic format so that all the information contained on the title register is available as data to be embodied automatically within the HIP. With this type of system the Firsthips e-conveyancing system could automatically prepare a draft contract and other supporting conveyancing documents simultaneously as the initial data is downloaded from the Land Registry when the HIP is first ordered.

In the meantime the existing exchange ready system is already in operation for solicitors who are registered and Firsthips are currently conducting trials to establish the most efficient way of using the system within the existing procedures.

Getting the most from HIPs
Did You Know?

Why They Choose Us!

View testimonials

Floorplans and Photos

Don't forget that we can offer you RICS approved floorplans and professional photographs!

Any Feedback?

If you have any feedback regarding this newsletter, the firsthips system, HIPs in general or any stories you think are relevant and would like us to publish in the next newsletter, then please contact us.

Help and Advice?

We regularly update our FAQ section with useful and relevant information for our clients. Recent entries include some of the latest government clarifications regarding market concerns such as:

Go to firsthips FAQ


Success stories

Key Features