I’m interested in HIPs for two reasons: (1) some of infolaw’s bread and butter is the supply of forms and precedents to lawyers; and (2) HIPs are an example of government regulation which should achieve a social benefit – less delay and hassle in buying a home, one of the most stressful “life events”.

There are many stakeholders with interests in the changes HIPs will enforce and each has its own particular concerns which may or may not be adequately addressed by the Regulations as now enacted. But there is the dry run to sort those out or at least achieve a better compromise.

To my mind HIPs must be a good thing. Yes, there will be imperfections and there will be some losers, but on balance surely it is a good thing that the paper-pushing that is conveyancing will become more standardised. This standardisation can only lead to efficiencies as more of the process can be computed and less is therefore subject to the administrative competence of the individual conveyancer.

I concur wholeheartedly with Nick Stace, campaigns and communications director at Which?, in a recent article in the Observer:

Over the years, trade bodies representing solicitors, mortgage lenders, surveyors and estate agents have all taken part in working groups to assist in drawing up the details of how the packs will work. … it’s difficult to see why some of these people are the same ones who are also busy scaremongering. There is a pilot scheme in operation to iron out any practical issues, so it really is time to set the record straight and give people the facts about HIPs. … The information in the pack is exactly the same that buyers would currently get after they make an offer. The only difference is that with a HIP, they would get it up-front, so would be aware of any potential issues before they proceed too far down the line. … while certain industries may have pocketed millions out of the current process, it’s safe to say that many of us have found the process far from perfect. The time has come to try to fix this mess, and the HIP is the perfect way to start.